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Thursday, May 30, 2013

STI Retracement Mode

STI dropped to its four weeks low yesterday, closed at day low 3367.47. Major support is at 3320 which is its previous resistance turn support level, if it were to continue retrace. The uptrend channel bottom is at 3344, also its 50ma level. It's expected 3344-3320 area could provide strong support.

STI general uptrend is still intact, it's too early to conclude the bears are coming.

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