round top

a few signs that i look for from the STI graph.

1) round top signalling slowing of upwards momentum.

2) failure to break 2420 resistance level.

3) breaking of the 2330 support level, and subsequently, breaking on the 10 day EMA.

some patterns i observed on the STI. there is always a retracement just above the 61.8% mark on the fibonacci retracement levels. this applies to the upwards move on 9 march, 1 april, 30 april, and 18 may. currently, the STI is hovering at a critical level where it always retraces to. what do we have to look out for?

firstly, tomorrow's trading bias. a further down move below opening and a move to the 61.8% retracement line would signal a short. this would also mean that it would be a short if the 20 day EMA is broken.

levels to look out for: the lowest that i set would be around 2100 (the support level on 18 may), 2190 to 2200 is a possible support level. keep a watch on how STI behaves.