Last post on the STI - Dire Straits - identified a break below 3120, and called for further declines. After reaching a low of 2970, there was a nice rebound. The same 3120 overhead is now serious resistance. Expecting price to correct with support at 3050 zone. A possible inverse head and shoulders reversal pattern is illustrated on the chart. An eventual break above 3120 will make this an A-B-C style correction implying higher prices ahead.
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