STI's Strong Rebounce

It was a big relief for bulls yesterday, with STI up 93 point in a single day, definitely a decent "window dressing" to end the month of Aug. Take a look at the big picture, the bloody drop for the month of Aug left a long tail for more than 200 points at the bottom.

Take note of the fibo levels as shown in below picture( from Aug high to Aug Low), and the three gaps: the immediate one:  2973-2943, which coincide with 50% fibo level 2954, and the 61.8% fibo level 3020 is also a major resistance level to watch out if STI were continue rebound up.

Currently, we are at 38.2% fibo 2890 resistance. See if it can break above from here. Overall, the trend goes to "no-man's land" now, STI had its "first leg" up, but the uptrend has yet confirmed. Make trading decision can be very tricky now. "Subjective" call need to made, do watch out the resistance/support level to park your trade.