STI is relatively quiet in morning session, waiting for clear direction. The overall picture is still down, and in the short time frame, STI is rebounding, it was down quite a bit yesterday but I consider it's a normal retracement in the "rebounce phase" as the whole sentiment is still weak, investors are lack of confidence to get in the market, most are stay in sideline.
The two support levels I'm watching for the time being:
S1: 2825
S2: 2800
I will consider the rebounce is over and more towards downside if STI closed below 2800.
Wednesday, August 17, 2011
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