end of day look at STI

Good evening, i was rather excited when the STI broke out of the triangle pattern on 22 July as i thought it signaled the start of a strong uptrend. But as it turned out, economic numbers show that growth is starting to slow again. More alarmingly, the STI has now fallen back into the triangle pattern again, and it looks like the upper slope of the triangle is acting as resistance, with the bottom slope acting as support. The MACD has turned sharply down, so the near term momentum is down. Longer term trend, as shown by the 200-day moving average, is still up. Initial support is at 3100, next would be 3078. Resistance is at 3130.