bearish engulfing

huge pullback on STI today as the market plunged over 60 points. currently, STI is at its 10 EMA and indicators are pointing down. lets do some analysis. current trend: uptrend because 10 EMA is still above 27 EMA (my own indication). from the past few weeks, STI has bounced up from 10 EMA up to the upper limit of the 20 EMA envelope, hence there is a possibility of the uptrend continuing and the STI to reach further up. alternatively, bearish engulfing could indicate a further downwards move, so be weary.

if a downside is to be seen, 2285 will be the mark. as for upside, hard to say, probably 2480. all depends on tomorrow's opening and how the market progresses within 10-20 minutes. that should give some direction.