Good evening, the STI was very volatile today, and went below 2700 points at one point in time. But the bulls came in and managed to push the STI above the 2700 level to close at 2731. The STI is extremely oversold now, but it has been making lower lows over the previous 4 sessions. The trend is still down and i would not regard today's session as a reversal signal. So i would recommend caution in the market as the psychology in the market seems to be a very violent sell down in the face of any negative news. Support for now is 2700 and resistance is about 2880.
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