Tuesday, November 24, 2009

STI Updates

Interesting price actions by STI today to destroy the symmetrical triangle formation. Instead, it appears that to be the 3rd wave of v of 5th today.

Closing at 2797, we are likely to see 2800 break very soon. A backtest of 2800 will then be expected before a final actionary wave to end perhaps at around the 2850 region as many of my respected CNA forum members mentioned.

CCI and %R are both on the high end. Shouldn't need to wait too long for the reversal to occur.

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