Here we have the daily chart. The black trend line which I just drew, looks to be the support today as well. The fibo 61.8% support is there as well (based on the low at 2907).
There's quite a fair chance that we might see STI re-testing 2900 soon. That support must hold to have at least a sideways market with a bullish bias-ness.
This is the weekly chart with the blue fibo lines removed. Here we see the 13 and 26ema weekly still trending up. This show that it's still mid to long term bullish. The 13ema seems to coincide with the support given today. Critically, the 20ma is at 2900 (which I deem to be a key point at this moment).
Right now, every dip is a buy as long as STI remains above 2900. 38.2% fibo at 2872 will also prove to be a support if 2900 is broken. I will consider this key fibo support as the last support and if this is broken, it might be better to get out and sit on cash. (if you are brave, you can even short).
true enough, it bounced and close just above the 50% line....
ReplyDeleteWonder how Apple's gonna affect the market.