STI Singapore Market Forecast for 09-Jan 2013

On the daily chart we can see the strait upward rally after taking support @ 2931.60 and made a channel called bullish channel. but on the other side with this sharp upward rally STI now trading in the support level of this bullish channel and if it breached this channel then we can see the sharp downtrend in the STI.

STI is in bullish phrase as it is trading above the resistance...