Above is today's end-of-day chart of the STI. After a 2% drop of the STI yesterday, the STI was relatively flat today. I am not sure if it signalled the end of the down trend (as that would be a very short one), but the STI did close above the 50day moving average and above 2900 points. The next support would be the 200day moving average line at about 2880 and below that it would be the 2800 level. Momentum is strongly down, but longer term trends are still up. It does look like a good buying opportunity soon.
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