Can STI break out of this triangle?
Updated
Much of Asia exhibits this consolidation pattern. To me, Singapore looks like the most attractive market to hang out in and wait for a trade resolution. Their companies' accounting practices are arguably better than, say, China's; and their valuations seem to be incredibly reasonable, too. Sources report STI to have an ~11.5 to 13 PE. On the other hand, it has been trading in lockstep with the pure-play Shenzhen.
Trade closed: stop reached
Ascending triangle has completely broken down. It's done.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.