STI Approaching Resistance
Despite the good showing the past three days, STI cannot be considered out of the wood until it is able to clear the three trendlines ( A, B and C ) as shown in the chart below. Trendline A is the most important, it is the key resistance at 3,040. A reversal from this level signifies the downtrend is still intact. A break above this level denotes sign of strength. Once trendline A is cleared, STI needs to also clear trendline B which is a downtrend line. When both trendlines A and B are overcome, the uptrend has resumed. Let's see how the market is resolving itself -- Posted from Penang.
IndoAgri
IndoAgri is attempting to break the downtrend line. If successful, it will mark a turn around of sentiment to bullish !
IndoAgri is attempting to break the downtrend line. If successful, it will mark a turn around of sentiment to bullish !
Labels: Market Direction, Stock Pick
posted by Market Wizards @ March 23, 2011
Comments: 0
