STI broken out of a bull flag

Hey all,

Recently, I have not been seeing anything noteworthy on charts of equities, thus I have not been posting much. Today, I have a simple chart of the STI for you all. The STI has just broken out of a bull flag. The pole of the bull flag formed when markets recovered sharply after being battered down by the crisis in Japan. The flag came as the market took a breather. Thursday’s trading sent the STI up almost 1 percent, and volume was above average too. With this bull flag in place, I will look for some more upside for the STI. Whichever way you see the flag pole, projections should be at least 3250. This makes the STI look good for a test of the important level of 3300. Lets see how this goes.

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: