Very close STI was reaching neckline last week but yet violated the line in massive way. In another word, the chances for the head and shoulder neckline to become the supporting line is getting higher. We can see an immediate rebound above 3118 level where previous low is not broken and from there it is starting to heading north now.
I will not say that the market shall flying from here. However, a temporarily buying sentiment is backing up our market and believe once resistant 3220 is broken then only the true upward trend shall begin. Happy New Year for all!!!
