STI for week of 26 Aug 13

STI_daily_27Aug

STI_Weekly_27Aug

The STI continues to drop and broken the support of 3065 – 3080 after a few attempts. The next support is the 3,000 psychological support. From the weekly chart, it seems that STI has broken the long term uptrend line and is on its way down. From the momentum of the weekly chart, breaking of the 3,000 mark soon is definitely possible.

Update on 28 Aug 13
The day’s low was at 2,990. The down momentum is unstoppable. STI will be down for a long time to come. Look at the next supports.

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