STI closed at 3134pts (4 jun 08). Currently we are seeing a triangle formation, market is still not sure which way to go to, breaking the resistance at 200d EMA (3213pts) will see it moving further up but if it fall below the support at 3100pts, will see it moving further down. Next support will be at 2976, 2860 and 2750.
Base on the indicators, currently STI does not look so promising. MACD is currently below the zero centerline and is pointing downards, Stochastics is crossing down at 50% region and RSI is below 50%. All these are showing a bearish sign. In order to see a better sign, STI really need to hold on well at the support level.
Base on the indicators, currently STI does not look so promising. MACD is currently below the zero centerline and is pointing downards, Stochastics is crossing down at 50% region and RSI is below 50%. All these are showing a bearish sign. In order to see a better sign, STI really need to hold on well at the support level.
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