A look at STI and some commodity stocks

Here is a look at the STI chart. The market has been going up for almost the whole of Jun, but it seems that all people are focusing on is the problems in EURO zone. How strange. Momentum is up, short term moving average is definitely up, medium term and longer term moving averages are starting to turn up. Today's price pattern is what is known as an inside bar, where today's high is lower than the yesterday's high and today's low is higher than yesterday's low. If the STI manages to break out of yesterday's high, it will normally continue going upwards rather significantly. And since yesterday's high also coincided with resistance of the 55day moving average, i expect the STI to explode upwards upon breaking up of this resistance. Initial resistance is at 2850, with the next one at 2880 below the 155day moving average. If these two levels are taken out, the next significant resistance would be the previous support at about 2945. Support for now is at 2820 and 2770 Below are some charts of commodity stocks. They are all showing signs of reversal to the uptrend, and a good strategy would be to buy on dips. Support levels are at their respective fibonacci levels.