07 Feb 2010
Hang Seng
STI
Conclusion
DJI, STI and HS has formed the 1st cycle of lower high lower low.
STI 2600 support is a crucial one. If it doesn't hold, we will see a clearer picture moving off from a short-term downtrend to a trend reversal.
2 Scenario from my perspective
1) Short - I will be looking for shorting if STI breaks 2600 support with high vol and retest test the support level as resistance.
2) Long - If STI breaks 2770 with high vol, I will be waiting for a higher low to form.
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