The STI ETF $STI ETF(ES3.SI) is an exchange-traded fund listed on SGX that holds Singapore's top 30 blue-chip companies — including DBS, OCBC, and UOB — in a single ticker.
Price is currently at SGD 5.024, just below the all-time high resistance around SGD 5.10.
The chart appears to be forming a Cup & Handle pattern. The cup base sits at approximately SGD 4.70, with the neckline (resistance) at approximately SGD 5.10 — a cup depth of SGD 0.40. The handle is the current tight consolidation just below that resistance.
If price were to break above the neckline at SGD 5.10, the measured target projection would be approximately SGD 5.50.
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A Cup & Handle is a chart pattern that is generally showing bullish continuation where price forms a rounded bottom (the "cup") followed by a brief sideways-to-downward consolidation (the "handle"). The pattern is considered complete when price breaks above the neckline (the resistance level at the top of the cup).
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