STI Analysis ( Nov 21 ~ 25 )
The Straits Times Index retreated toward the target of trendline violation. Strong support is found at 2,670~2,690 but chances is it may not reach there. Stochastic has entered oversold level, there should be buying opportunity next week.
In the US, both DJIA and S&P500 have broken out of the symmetrical triangles from the wrong side. This is bearish and may signal further downside after the short term oversold situation is corrected.
Labels: Market Direction
posted by Market Wizards @ November 19, 2011
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