18 Jun '12, 1am

Weekly Technical Update – STI

Weekly Technical Update – STI

Weekly Technical Update – STI by Ivor on June 18, 2012 Sign of optimism before Greece Election? 15 Jun. FSSTI closed above the Median Line of Downtrend Andrew’s Ptichfork and at the level of 2811 (above 2790). All these happened before the Greece Election. As discussed in earlier posts, a move above 2790 and above the Median Line, a possibility of further upside. A move above the Median Line may see the possbility of testing the Upper Bound. Based on the attached chart, the interaction between the Fibonaaci Retracement and Upper Bound and the confluence of resistance seem to be at 2865-2875. A move above these resistance may see the possibility of retesting the resistance of 2900, followed by closing the gap of 2940-2990. Similarly, a move below the Median Line may see the possibility of retesting the Lower Bound. A move below 2695-2720 may see the possibility of further d...

Full article: http://thefinance.sg/2012/06/18/weekly-technical-update-sti/

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