STI Opened at the SAR resistance... Sell into strength? Not sure.... Personally I think will drop more. It is quite relevant in light of steep overnight gains. As we have outlined in the chart, the rebound which we were expecting is very likely a wave iv of 5, which should give way to one final low, before a more sustainable rally unfolds. At this, stage, it could be risky to sell entirely into the rally, i recommend selling just partially and to await better levels. For the STI, we see resistance at 1540-1550.
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