With reference to 22nd Apr 2010 closed of 2,980.69, STI still ranging within the potential falling wedge formation in a declining volume basis. The short-term GMMA still in compression mode while the long-term GMMA in expanded mode ( in an uptrend direction ). Falling wedge is bullish in nature
Points to monitor :-
1. STI does not fall outside the falling wedge formation hence void the formation
2. The support region 2,880 - 2,945 does not break down
3. The apex point of the falling wedge is around 2,920
4. If breakout near the apex region, there should be expansion of volume
5. long-term GMMA does not enter into compression mode
