A correction is at the corner, 50DMA (11964) is going to face the battle. This is contrary to the Asia mkts. From last Friday till yesterday night, DJ had dropped more than 150 points. But STI has not responded to it.
Tuesday, March 8, 2011
STI update
Let's take a look at US DJ situation.
A correction is at the corner, 50DMA (11964) is going to face the battle. This is contrary to the Asia mkts. From last Friday till yesterday night, DJ had dropped more than 150 points. But STI has not responded to it.
The technical signs are showing the positive signs. Firstly, STI is able to cross the 200DMA. Secondly, the MACD is showing the 'buy' sign. The immediate sign see 3120 as the main resistance. I expect the STI to face some volatility over this area before it continues the bull run. Of course, US situation must get better too before the bull run can continue.
A correction is at the corner, 50DMA (11964) is going to face the battle. This is contrary to the Asia mkts. From last Friday till yesterday night, DJ had dropped more than 150 points. But STI has not responded to it.
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