Traders' Forum

Re: Hi Z, what's your take on SI? *PIC*
By:CO
Date: Friday, 5 March 2010, 1:41 am
In Response To: Hi Z, what's your take on SI? (DiamondCHan)

Hi DC

No position here in SI, but here's my take. The Weekly shows we are in an area of resistance as shown in the Profile. Don't really need the Profile, such areas are easily spotted by a series of successive overlapping bars. Same principle as the DBS TR. Therefore the immediate expectation would be chop action, there are no air pockets until higher levels. If we drop down to the Daily, there has been one 'dirty' test of the Feb high, and a 'clean' one just recently. Considering this accomplishment, I would have expected a more enthusiastic response as shown by Volume. So, a negative bias only at this time in this market. CO