Rally was strong over the week and many have asked what to do and if its time to short.
Well, just to share our thought and the roadmap for STI.
STI currently at 2663 and it seems possible that STI might break above it in the coming days and even test that downtrend line at about 2700 levels. From there we should watch closely to see if it can continue to break to test the resistance levels of 2758 then 2800 . We are not turning bullish but if you like to trade the rebound then maybe just watch those levels. We are waiting to see those levels to plant shorts and will cut if we’re wrong. Our stop loss will be above those resistance lines if we short so that we minimize our loss.
Remember to always have a plan and not trade blindly.