Reminiscences Of A Trader

Sunday, December 03, 2006

Straits Times Index

The short term support levels for the STI will be 2826, 2814, 2787 and 2771 (refer to the hourly chart).

Hang Seng Index

Currently, the HSI is undergoing a short term correction. If the recent low at 18618.66 is taken out, the index may test its short term uptrend and also the 50-day moving averages (refer to the daily chart). If this critical levels are breached, the index may plunge to 17800 and 17304, which is the 61.8% and 50% fibo retracements of the uptrend since early June 2006.