Ichimoku Cloud (daily)
STI Tenken sen (blue line) at 3061 and is going much lower than the Kijun sen (red line) at 3091. This is a bearish sign. The consolidation phase seems to be over since STI went straight below the cloud in a clear move in 2 weeks. STI below the cloud means it will be facing a strong resistance at 3065 and another resistance at 3145 if the bulls want to regain back control for an uptrend. The previous low of 2920 on 18 March 2011 is the next support level to watch.
STI Tenken sen (blue line) at 3061 and is going much lower than the Kijun sen (red line) at 3091. This is a bearish sign. The consolidation phase seems to be over since STI went straight below the cloud in a clear move in 2 weeks. STI below the cloud means it will be facing a strong resistance at 3065 and another resistance at 3145 if the bulls want to regain back control for an uptrend. The previous low of 2920 on 18 March 2011 is the next support level to watch.
Bollinger Bands (weekly)
Weekly STI has dipped below the middle band at 3107 and moving towards the 2936 support level of the lower band. The previous time when STI touched the lower band, it rebounded by over 100 points in 3 weeks. It is a crucial time to see if the support will hold again in the coming weeks.
Disclaimer: All info posted is for reference only and not an inducement to buy or sell shares. You are solely responsible for your own actions.
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