STI - Piercing Pattern?

The behaviour of STI today was very dramatic. It gapped down 41 points to 1833, hit an intra-day low of 1814 points before closing at 1887. Today's candle pattern looks like the formation of a bullish piercing pattern. This is a potential bullish reversal signal during a downtrend (the market was in a downtrend over the past 3 days), then it gapped down. This movement looks like the continuation of the downtrend, but then the bulls pushed the price up past the mid point of the previous day's candle. So, it looks like the green candle 'pierced' the red candle from below. From here, it looks like there will be another test of the resistance at 1959. If the STI manages to break through the 1959 level, the upside target will be 2461. This target is calculated in the same way as i calculated the target for Capitaland. You can see that the STI made a double bottom during the past 6mths (the bottom level was at 1457), with the pivot at 1959). The depth from the pivot to the bottom is 502 points. The upside target if the STI breaks out of 1959 = 1959 + 502 = 2461.