Oscillating like a wave

Dow Jones rebounded off it's channel resistance for the latest closing. The weak rally on friday failed to breach the channel resistance line. Furthermore, it tested the 200d MA but failed to close above it. Now i guess Dow Jones will rebound off it's channel support line in a few days time but as of now, it is still quite far away from the channel support so Dow should decline further in the next few days.

Dow Jones Industrial Average:


As what i mentioned in my last few posts, the chart of the Straits Times Index look almost like the Dow Jones, except that it seems to be lagging a bit. So if Dow Jones rebounded off it's channel resistance, chances are that STI will decline in the next few days until it touches the channel support. As of now, we can see from the chart that the STI has rebounded off it's channel resistance.

Straits Times Index:



It's a good time to be go short indeed. I notice most of the china stocks have breach their support and are falling like there is no tomorrow. I guess it's time for me to enquire more about CFDs and open an account to take advantage of the situation.