Like DJI, STI is currently trading within the channel with resistance at around 1950. Base on the indicators, it is more likely to move down from here. As BBs are coming in, the chance of touching the bottom channel line is very slim.
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2 comments:
hmmm...
I am still undecided whether STI will move up from here. But agree with you that it is at it's resistance.
Downward pressure on most markets might push it down instead but as with TA, you would only know when there is a confirmation after a resistance breach or a plunge below the short term upward trend.
Fingers crossed!
cheers!
base on my indicators, it is more downward bias.
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