Singapore’s Straits Times Index is in a primary up-trend. Breakout above medium-term resistance at 3000 would confirm the advance to 3200*. Any retracement is likely to encounter support at 2900.
* Target calculation: 2900 + ( 2900 – 2600 ) = 3200
The Seoul Composite Index shows a similar pattern, running into medium-term resistance between 2000 and 2050. Expect good support at 1950. Breakout above 2050 would confirm the advance to 2200.
* Target calculation: 1950 + (1950 – 1750 ) = 2150