Wednesday, October 14, 2009

STI Updates

The reason for mentioning 2686 today. Chart here:

Seems like tomorrow will have a big movement... Of course, I could be wrong as a broadening rising wedge might result instead.

I'm still staying sidelines till further confirmation signals are abound. Personally, I'm expecting a breakdown of the rising wedge, resulting in a small time correction down to around 2630, which is the 50 day MA line, before any further upside.

Or will STI take out 2686 to break above the resistance line, symmetrical triangle and rising wedge soon to portray an extremely bullish scenario? Let's just watch the show.

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