STI - Weekly

2400 was the key psychological barrier and was tested in early August 2005 but we fail to break it and it retraced to 2200. The STI formed a double top at 2400 in early January 2006 and we tested it again and broke upwards and we are on a uptrend. It is a good run and we are capped at 2450 till last week.

The STI was stuck in 2420 to 2450 trading range for a week before we broke the 2450 resistance. However, this break us not “as clean” as desired. Monday's performance will set the tone for the rest of the trading week. If we are able to hold the STI above the 2450, then we are on our way to test 2500.

STI's all time high of 2582.94 was in March 1^st 2000 at the height of the Dot.Com boom. Can we see that? There is an Investment bank that say that the STI could achieve 2700 in 2006. We shall see!