Above is a daily chart of the STI. I am not sure what to make of today's price action. It opened up, rallied a little, then sold off into the close. We did close higher than yesterday's close, but still, the price action is weak. Major trends are down and momentum is down. Near term support appears to be 2700. with resistance at 2770.
I really wonder how this crisis will be resolved. The solution appears to be political and would entail a major shift in the thinking of people in the EU, a major realignment of the views of people of differing cultures.
Tuesday, June 5, 2012
End of day look at the STI
Above is a daily chart of the STI. I am not sure what to make of today's price action. It opened up, rallied a little, then sold off into the close. We did close higher than yesterday's close, but still, the price action is weak. Major trends are down and momentum is down. Near term support appears to be 2700. with resistance at 2770.
I really wonder how this crisis will be resolved. The solution appears to be political and would entail a major shift in the thinking of people in the EU, a major realignment of the views of people of differing cultures.
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