*************** STI Direction: Broke below 3300 yesterday, Bearish Double top spotted - where to now ? STI - 3259 NOW

Sent: Tuesday, December 16, 2014 10:19 AM
Subject: **************** STI Direction: Broke below 3300 yesterday, Bearish Double top spotted - where to now ? STI - 3259 NOW

STI has been supported about a month above 3300 but yesterday we have seen some weakness in the general market with selling seen in blue chips like banks and Oil and gas firms across the board. Today, it has again broke below the temp 3275 support level which was the support last month. This can be the beginning of more market weakness ahead with short term target AT 3235 then 3200, 3150 strongly.  A Bearish double top formation seen currently. Note that what we are seeing now could be the same as in September where it traded down from a 3360 to 3150 before finding a support. CFD SELL for STI INDEX can be used to ride any downside.