Monday, July 28, 2008

STI Update


STI made a pivot low on 16 July and it has met a resistance at 3000 level. The market is not out of the woods yet.

STI is still trending downwards. Based on Fibonacci Analysis, the downside objective point is at 2546. There is also support at 2745 level, the low that was established on Jan 08 and Mar 08 respectively.
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