The index faced resistance at 32600 as expected but took support at SAR around 32150. SGX is flat to positive with 15 points. Any weakness around 32600 should be used to short the index for targets of 32450-32300. Below 32300 the index will test 32150, where its 1 wk avg also lies coincidentally, proving it to be a critical support. USD is oversold at the moment and could look to move towards 74 in the coming days, which will have a negative effect on our markets.
On the contrary, if the index manages to sustain above 32600, it will be looking to venture beyond 33000.