STI shot up to form a double top, falling a little short of my prediction here. But still, it was on course and subsequently, it faltered at the top; giving bears the signal to come out in force today. My take is, the correction will continue; its a healthy correction. Lets see if the 38.2% fibonacci line is the support, breaking this support will be the 50% mark. Failure to rebound from here will confirm a bearish trend down.
STI put warrants anyone?
On a sidenote, noble group has started the correction. In fact its now at my last sell price - $3.34. Lets see if it drops further. I regreted not opening shorts on this. I'm using work as an excuse here; its tough to balance work & stock market together LOL.
No comments:
Post a Comment