Friday, May 30, 2008
Capitaland's strong rebound from oversold caught my eye. I be watching the falling window marked by red lines followed by the downtrend resistance line overhead.
STI edges up cautiously. Currently MFI is pending a downtrend breakout. Money may start flowing into the market again. However i be watching the blue line resistance. If both STI and capland together with the rest of the market can break the downtrend line, it may be time to go long. However, they struggle at that level, i will initiate short positions. This is an example of ask not where the market is going but what you going to do when the market gets there. It is highly important to develop your thoughts about the market and trade accordingly.
HSI is rebounding now, however, this is just a swing trade for me as there are overhead resistance nearby.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.