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Tuesday, February 15, 2011

STI and HSI

Since Straits Times follow  Hang Seng very closely as concluded in my previous post, I've done further study on the two charts:

1. HSI currently rebounding from its major resistance turn support level 22437, and formed a double bottom formation, also at its major uptrend line support. All these are bullish reversal signal for HSI.


2. STI looks weaker than HSI currently. As it broke its support 3120 on 10 Feb, which I thought it will provide some support when it dropped to this level, but it didn't. So I'm wondering is it a valid resistance when STI rebounding back to this level. 3180 will be the key resistance level I'm watching out instead.


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