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Wednesday, December 14, 2011

STI on the Edge of Cliff

Take a look at STI chart below, it's now cycling down to its triangle bottom line, I'm bearish if STI can't CLOSE above 2715( 50% Fib level), more down side if it closed below the triangle bottom line, "last straw" is at 2668( 61.8% fib).

Look at the STI line chart below, I have the below pivotal levels(close price) on my notes:

Immediate resistance: 2695
Support 1: 2640
Support 2: 2528

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