By: Kleer
This technical commentary on the STI was released by AM Fraser Research yesterday.
Note: I do not necessarily share the view of this commentary, but it is useful to know what the key support and resistance levels are.
Key support – 2610-2620
Next support – 2500 (half way mark of 2003 bottom and Oct 2006 peak)
Minor resistance – 2814 (38.2% mark)
Major resistance – 2915 (2007 low)
STI 2747 at around 2.45pm today(yesterday) is down 1084 points or 28% from 3831 peak.
Next major support after the decisive break of 2915-3000 yesterday and today is the 2600 area (2618 May 2006 high (old STI 2666) and 2618 (Jan 2000 high 2583).
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