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Singapore

Singapore Free IndexAs the Indices Team alluded to in the previous report, the Singapore free index has been in a channel since 2009. On monthly candles, it has broken further out of the Keltner Channel on the back of a bullish run since late 2016 showing promising signs for the indices long term growth. This run is fuelled by improved exports in Singapore. Looking at daily candles, Singapore continued its bullish run pushing against resistance before the market took a hit on the 16th of May due to allegations into the Trump FBI Director saga. As did much of Asia and America, Singapore took a hit falling into support around the 354 price point. As the market looks to recover and Singapore Free pushes back towards resistance, this provides itself as a good time to start restacking a long position.
OANDA:SG30SGDLong
by STIADAYSOFPAST
Time for USDSGD 1.49~1.55Key neckline breakout. The low of wave 4 is probably seen by now, and will not move much lower. (previously 1.28 was still possible) Q3 exports was down a massive 4.9%. Trump presidency that will render the current Transpafic Partnership (TPP) under discussion obsolete. Increasing competition from regional ports (such as iskandar malaysia), and China's Huge 'One Belt, One Road' initiative on increasing infrastructure investment Years ahead Singapore will be in for the best of globalization, while other countries are increasingly de-globalizing. (As seen in the Philippines, Brexit and US election this year, including EU election in 2017) The 'open' policy will be worst off. There's simply no way Singapore could impose levies and taxes, since it does not produce on its own and is unsustainable without foreign imports. Regionally, ASEAN as a whole is dead. Malaysia, Brunei, and Philippines are moving increasingly closer to China. As a whole there is not really any leverage in the South China Sea at all. The prime minister of Singapore, Lee Hsien Loong have pretty much left all his basket of eggs with the US and have proved to be disastrous so far. China will have the last laugh regionally.
Long
by LastBattle