Retreating from 2016 resistance ~ 2959, STI gap down on last trading day. Selling pressure were seen on banks as well of oil counters upon bankruptcy news of local oil & gas company, Swiber. Entering August, most blue chips will be expired with dividend entitlement. Index could be softening. Free fall oil price could induce further headwind as well. Strong support line could be 2706.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA)
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