STI at crucial region

Hello all,

In my last post on the STI, I showed you all a worrying picture looming on the chart of the STI – a downward parallel channel. At that time, the STI was hovering dangerously at the bottom of the channel around the region of 2620. Thank goodness – and true to the parallel channel pattern – the STI rallied all the way up to overe 2800. Right  now, I see the STI as trading at the top of the channel. Now, any more upside on good volume will be very much welcomed. If we can kiss the 2800-2900 region goodbye, then I must say there is more and more chance of the STI breaking through the 3000 barrier soon. For now though, we can only sit and watch. Let’s hope for the best.

 

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.

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