SgTraderClub Weekly Stocks Updates: STI Retreated Sharply

Tuesday, March 6, 2012

STI Retreated Sharply

The stocks did not rebound as what I expected, they were sell-off sharply today. STI dropped 59.79 or 2% to close at 2932 today.

STI first support is at 2918 (50% middle wave), then 2900-- the important psychological level. If these two support level can't be hold. The 61.8% @ 2885 ( the whole rebounce from last year close 2646 to recent high of 3032) will be the 3rd support level to watch for a rebounce.

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