Triple Top Formation – Lookout for increase in volume at support (2500)

Currently STI has formed a triple top formation and the psychological support at 2500 remains intact at closing. If there is further weakness spotted at market opening on Tuesday, this might lead to a downturn. Do note that if US-China relations continue to go south, then STI might extend its consolidation or follow suit into yet another downturn. However, this triple top formation is on a daily chart so there is chance for it to be inaccurate.

STI – Daily Chart

Triple bottom formation suggesting possible breakout at 2580

Looking at the daily chart, we are currently at the mercy of the US trading outcome on Monday. If there is a severe weakness in US markets, STI might lean towards downtrend rather

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