Straits Time Index (STI): Double Tops in Formation

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STI is in the process of forming a Double Tops and currently testing the 50D MA support at about 2,920.

The next support is at about 2,860 which is a 200D MA followed by the Double Tops neckline at 2,701 (which is also 78.6% Fibonacci Retracement Level). Breaking down the neckline support will send STI to 2,363 level.

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