[Analysis] Straits Time Index

During 2020 , the meltdown in the market fueled by Covid19, Singapore market dropped from the high of 3411 to 2206. This is a 1205 or a 35% drop in the market.

However price have manage to price a support from 2450-2650, a support that was held strongly during Nov 11 and Feb 16. This support have also created a higher low, the previous low being at 1630 during Aug08. As long as this support (higher low) is held, prices will be seeing higher days towards the end of 2021 and early 2022.