STI Technical Analysis (14 Mar 10)

Support/Resistance:
The chart seems to be forming a bear flag pattern. The strong support line is at 2600. However the chart may be going uptrend to 3200 which is the next resistance line.

Indicators:
Looking at the MACD, RSI and Stochastic, the three indicators are near the half way point. So it may not be a good buying or selling opportunity.

My Target Price:
I will be buying STI ETF, if the index reaches 2600. However if the index reaches 3200, I will sell most of my shares.

Please note that I am using TA to position myself for long term investing and not to predict the direction of the market.