Friday Indicator

Dow Jones tanked 250 points to closed at 12573.57 last night over China PMI decline and the cut of growth forecast by Fed. This maybe the first sign to end the rebound over past two weeks.

STI managed to close at 2830 support yesterday. If it lose below it today, the short term uptrend line as seen in hourly chart( refer to my previous post) will be broken to downside. Further drop is expected. Levels for Friday Indicator:

61.8%: 2846
50%: 2841
38.2%: 2837

This week numbers are very tight, as market in a narrow range over the past four trading days. So i will be focus on the fibo level and the gap support instead.
STI immediate support is at the recent gap 2800-2820. The 50% fib retracement mission completed. Refer to below chart.