STI 24 Dec 12

As mentioned earlier on (refer to my chart on 12 Dec 12), I would expect STI to have some reaction at my resistance zone. Please see the chart and look at how beautifully the bulls and bears struggle in the region of 3,160-3,168. Of course at some days, STI even went to 3,175. As at 12.30 pm, it hovers around the region of 3,163. As a trader, I will not enter here. I will either tighten my stops or take partial profits. I think price will still be holding until all the merry making is over. LOL !

Some readers asked me why my chart is so simple without indicators? All I can say is that almost all indicators are lagging and they are a derived from price. ThereĀ are specific uses for indicators, but not in this aspect.

STI_24Dec_12