Charts tip STI poised for correction: Maybank KimEng

Singapore two-dollar bills

The charts are tipping that the Straits Times Index is poised for further correction in the near-term, Maybank Kim Eng said in a note on Monday.

But it added that technical analysis showed the longer-term trend is still positive.

”We believe buy on weakness is a good strategy,” it said.

It tipped support at 3340-3345 and resistance at 3575 and 3612.

The STI was up 1.53 percent at 3491.09 at 3:44 P.M. SGT.