STI has dropped 75 points this week(till Thursday) or 2.4%. A bloody week. STI may have a rebounce( at least for short term) after the sharp fall. Levels to focus:
61.8%: 3073
50%: 3063
38.2%: 3053
I'm bearish if STI can't close above 3063 today. STI closed at 3033 yesterday, if a rebounce today closed below 3053. It will be an ugly bearish candle on weekly chart, which means more downside bias. STI already dropped below my two important level 3035-3088. Bulls should be very careful for your long positions. Will update you again.
Friday, October 12, 2012
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment