Good morning everyone.
Profit-taking taking place after its last week surge up. STI is down 23 point at 2882. STI facing immediate resistance at 2900, support level 2850, then 2790. It offers some "buy on dip" opportunities for the bulls.
As the trend is up, I will focus more on "buying"(long) rather than "selling"(short). I expect STI would continue its run up towards the end of this year.
Will update you soon.
Monday, October 31, 2011
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3 comments:
FJ, can do an analysis on why you think the market will rally till end of the year?
Butter
yes, some are saying that the next leg down would be sharp. Why do you think the next rally would continue till Dec 2011?
Thanks
As you probably know, trading is always about probability, with recently run up, my bias is to upside purely based on TA perspective, will I change my view? Yes, of course. I'd rather wait for mkt tell me which way it goes, rather than "hear someone said"..kind of opinion.
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