Good evening, above is a daily end-of-day chart of the STI. Resistance for now is the 50-day moving average. For me, it is good that the STI took a breather after rising for 8 days in a row. For the week, support at 2700 held, which is good. The STI is now moving sideways and it looks to me that a bottom at about 2530 has been formed. So for now, momentum is upwards, short term trend is sideways, longer term trend is still down. Key support levels are 2700 and 2650. Key resistance levels are 2770-2800 (50-day moving average line and previous high) and 2900. I think longer term investors can buy on dips.
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