back on 8th Jan , i mentioned " STI surge up faster than my imagination to hit a high of 1959 and retreated . Resistance level of 1845 now turn support , if this level fail .. the next level of support is around 1800 . watch closely for rebounce around that level . "1800 was tested and STI could not bounce up and instead proceed to drop till 1700 before a weak rebounce set in . As such STI index short term uptrend has been terminated . Previous support of 1800 has now turn resistance . I believe after the budget and Obama stuffs are over , STI is likely to retest 1700 again and a break down( very likely) will bring it to 1640 at least , follow by 1600 . Interesting time ahead ... ...
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