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Wednesday, April 6, 2011

Straits Times Resisted at 3150

With many counters at their resistance level but failed to breakout for upside yesterday, it turned to selling off and formed a shooting star candlestick on STI daily chart, at its trendline resistance 3150.

The probability of STI to pull back has increased  now, I'm looking at 3110 (prior resistance turn support) as the first defense level for bulls.


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