Wednesday, August 1, 2012

**Watch** SGX - STI Cup & handle formation

Cup & handle is one of the more popular technical formation that traders watch for... For more explaination, you may go to this link at which I find quite useful & practical for traders.

Basically if STI is to open & stay closed above somewhere 3030, the STI may have completed a breakout and will likely achieve 5-15% increase, possibly breaking its next resistance 3100, and reach its previous highs of 3200.

Watch for this week & next, especially the action from Europe and Fed's meeting...

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