Friday, September 26, 2014

************************ STI Direction: Where to now ? Consolidating within range for more direction...... Now 3277

Sti is currently consolidating in the range of 3265 to 3315 for more than a week. Has managed to find a support around the 3265 over the past few days which was also the support seen in July before it started trading up. As long as it stays above this level, Sti still has legs for any rebound rally above 3315 level. Any breakdown of 3265 can see it go back to 3220.  Can consider accumulating on dip blue chips like banks or property counters when it nears this 2 support for any technical rebound. Only the upside breakout above 3315 can lead the rebound back to 3360 – 3390 level. Note this levels, currently at 3277, lets watch ! J

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