STI New High?

Posted by admin on April 4, 2010 under Articles | 6 Comments to Read

STI Upper Bollinger bands

Powerful repair above the Hourly Mid- and Upper Bollinger bands…and even pierce through the topmost horizontal resistance level within a day.

The rinse-and-wash tactic (washing cards) on last Wed was meant to shake out the weak holders and short-term traders.

As long as STI can stay above the 2941 level for more than 2 trading hours, we will be ready to see a new high for STI.

STI new high

If STI can create a new high, it will encounter a few resistance levels…

Daily Horizontal Resistance Level: 2979

Psychological Level: 3000

Daily Upper Parallel Channel: 3015~3025

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