Tuesday, October 13, 2009

STI Updates

A little rushed, so no charts in this post.

STI faces strong resistance at 2686 today

1) rising wedge (1 week) resistance
2) symmetrical triangle (1 month) resistance
3) 50% fibonacci retracement level
4) horizontal resistance point if we join a few peaks.

It looks unlikely that this level will break today. If it does break with high volume, it's a very bullish signal.

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