Quick update on STI:
Today's price action is positive. Momentum appears to be driving STI up now. The case of a bullish divergence, whereby the STI makes a lower low while the MACD makes a higher low appears to be taking shape. If this positive momentum continues, the next resistance is at 3060 (where the 200day moving average has been hovering since mid Feb 2011. Support is at swing low of 2920. This may be a good time to go bargain hunting.
Above is a daily chart of noble group. Price action is more bullish than the STI chart as Noble Group is still trending above the 200day moving average line, meaning that the long term trend is still up. However, it is trending below the 50day moving average, so short term is down. But the bullish divergent picture is forming nicely, and the momemtum is moving nicely upwards. Resistance is about 2.12 (the 50day moving average line). Once it is able to close above that, then the tide will really be in Noble Groups favour. It looks like a good time to start accumulating this stock.
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