As spoken before, 2666 is the strongest support for STI at this moment. Although it had been violated on Tuesday, however, today it was closing convincingly once again above this level. In another word, this support level is still intact. We would not like to see 2 consecutive closing days below 2666 level as confirmation of breakdown happen in near term.
From chart below, we can see a possibility where a short term divergence may happen in very near term. Both of the indicators, MACD & stochastic were showing the same form. We only suggest a very quick rebound trade chance with close protective stop at recent low.
