Follow up from previous post, STI has broken out of its consolidation phase (from 3240 to 3320) which it has stayed for about 3 months last Friday. It has not only stayed above this new support level at 3320 but has surged higher. Support for STI would now be at 3320 then psychologically at 3300 level. It can potentially head to test the 3400 level within a few weeks and might consolidate awhile before finding a new direction. As long as 3300 holds, the market still looks bullish in the short term. A break out above 3400 can see it go higher and blue chips(Banks, telco) bringing the index higher.