Straits Times Index Breakout
This post addresses the question from the anonymous reader who left me his question in the "comment" area of my last post:
What we have seen the last few days was a strong breakout from a double bottom neckline as shown in the chart below. Support is 1,945, resistance is 2,145. Double top takes place in an uptrend usually at market top and serves as a bearish trend reversal. Double bottom is the opposite, take place in a downtrend reverse upward.
Labels: Market Direction
posted by Market Wizards @ May 05, 2009
Comments: 7
