STI closed 3,002.62 on 26th April 2010 with STI breaking out of the falling wedge formation but there is lack of volume to provide the confirmation.
The positive sign :-
1. RSI looks onset to cut up and be able to maintain above the 50% level
2. %K has already cut up %D and smoothed %D looks onset to cut up %D also
3. Short-term GMMA slowly expanding out with the 3d cut up 5d
4. Long-term GMMA still showing uptrend with strength
The negative sign :-
1. Lack of volume when breaking out of the falling wedge formation
Things to lookout for :-
1. Backtest the breakout level at 2,970 - 2,987 and this level must hold
2. Expansion in volume
3. The support region between 2,880 - 2,945 must not be broken down
