Singapore STI ETF (EWS) signals a rough 2022
The Singapore bourse STI ETF, EWS, has a very ominous outlook for the next couple of months into the end of 2022.
Hyperinflation could be the current trending killer, but seems like more is likely to add on. Not sure what shoe will drop, but the charts tell it as it is...
April and May ended badly entering into a range that saw May break down of that range briefly. The monthly technicals are showing a lot of underlying weakness, and the first downside target is shown.
The lower range band must hold, and is quite likely to be tested and should hold (at least seen at this point). Otherwise, a low more downside will ensue...
Heads up for the next half of 2022 Singapore!
Hyperinflation could be the current trending killer, but seems like more is likely to add on. Not sure what shoe will drop, but the charts tell it as it is...
April and May ended badly entering into a range that saw May break down of that range briefly. The monthly technicals are showing a lot of underlying weakness, and the first downside target is shown.
The lower range band must hold, and is quite likely to be tested and should hold (at least seen at this point). Otherwise, a low more downside will ensue...
Heads up for the next half of 2022 Singapore!
Comment:
Downside Target HIT!