The congestion band

Life has not been that dull these few days. I am motivating my R & D Engineers to become a Sales and Marketing, I am embedding suggestions into them on learning to read customer's mindset. The thing is that I am converting my R & D into a Technical Sales team. Its funny that a Perceiver like me is very interested in organizing strategies. It is like going to war and you need to plan your tactics to over come the enermies.

I have not been up-dating the blog the last few days, I was really, really tired, my eyes could hardly open while reading the charts, and yes, I still read the charts even though I did not do any blog entry.


Fig 1 STI Daily Chart

What I can say is that STI is in a congestion band, a small one which looks more like a mini rectangle. There are 2 possible outcome to this, one is that it breaks up-ward with objective of 2,985. If it breaks downward, the objective would be 2,904. There are 2 levels that one needs to monitor, support at 2,930 and resistance of 2,958. These are the breaking points of the rectangle ( or tripple top, a small one ).

So far I am having divergence on the RSI, downward. Therefore STI is likely to move downward mid term.