STI rebounded strongly yesterday, up by 74 points to closed at 2603, right inside my planned resistance area 2590-2610(see my previous post). The next gap resistance is at 2645-2660 if it can break and stay above 2610 today. My key support level will be at 2583, it may continue rebound if STI managed stay above this level today( Remember today is Friday, we have a special Friday indicator for those of you who attended the monthly gathering.)
Not forget the general trend is still DOWN, I'd prefer to short if it rebounded very high. Do watch out for the major resistance level for individual stocks.
Friday, October 7, 2011
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