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STI Technical Analysis

>> Thursday, December 16, 2010

It seems that the STI Index is forming a perfect head and shoulders (H&S) pattern. For those who believe in reading charts, I suppose this is a crucial time to be cautious.

Market is still hoping for a Santa rally and year end dressing. If that happens, it should shift the chart from falling below the neck line level of 3120 which will complete the H&S formation.

Posted by Lau at 8:04 AM
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