STI 12 Dec 12

STI broke its 12-months high of 3,100 and attained a high of 3,145 today. Looking at the chart, the Index is reaching the upper channel resistance as well as projected resistant of 3,160. I would expect market to react around these resistances. Expect profit taking in this region then follow by a small pause before market searches for new direction again.

STI_12Dec12

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