Sunday, November 26, 2006

 

STI in danger...

This is daily chart of straits times index. As we can see, the sti hit the upper end of the uptrend channel on Nov 23 and gap down the next trading day. This is bearish for STI as sti could correct to as low as around 2700 if the 'red line' support is broken. STI have enjoyed a 6 month rally and make new high day after day since the May selldown, a correction is needed for sti to have some rest and prepare for the new year rally... history repeat itself...

# posted by chua @ 7:19 PM
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