SINGAPORE (May 8): The Straits TImes Index is at an interesting juncture. It has approached a secondary resistance level at 2,620 or thereabouts, a level that now coincides with its declining 50-day moving average. Quarterly momentum has already broken above its own moving average, suggesting that the index could follow suit. Such a move would reconfirm the STI’s earlier break above 2,561 which had indicated a target of 2,890.

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