STI Technical Analysis (7 Mar 10)

Support/Resistance:
The chart seems to be forming a bear flag pattern. In my opinion, it is not a good buying opportunity now. The strong support line is at 2600.

Indicators:
Looking at the MACD, RSI and Stochastic, the three indicators are still going downtrend. If these indicators continue to fall further in the next two weeks, it may be a good buying opportunity.

My Target Price:
I will be buying STI ETF, if the index reaches 2600.

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