The quarrels over the debt ceiling will probably only be sorted out shortly before 2 August because we are looking at a political power game here. There seems to be no doubt about the fact that the ceiling will be raised, as a look back into history shows. The debt ceiling, or debt limit, was introduced in 1917 and fixed at USD 11.5bn. Since then it has been raised 93 times, and the momentum seems to be accelerating. Since 1962 it has been raised 74 times, and since 2001 ten times already. It therefore makes sense to question the point of such a limit* altogether.
(*From “False Belief #3: There is a Debt Ceiling”, Louis Boulanger, The Gold Standard Institute Magazine Journal, April 2011)

STI forming a symmetrical triangle. If the STI can break out of the consolidation , it may signal a change of the trend. However, we have NOT yet broken above the trendline. Next few days will determine the direction.

The uptrend line was broke down in Jun and now STI is attempting to break above this line. However there is a short term downtrend now.

Another event that is going to happen is we are just .. below  at the all important 200ma line.

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using the daily chart , we know that this stock is on a downtrend. 20 ma and 40 ma  . The CCI went to overbought of 100. We may consider to go on sell mode .

We may look to sell when the price go to the extreme on the hourly chart. Looking at here , it will be  2.86 which the price then pull back to 2.79 and recently at 2.90. This in my view there is a false breakout on the 24/6  so many be caught again on the wrong side since the price is now 2.84. The selling pressure may continue for 5 days from the false breakout. Support is at 2.75 but this support may not hold.

This is because there was a false breakdown 4 days ago. This cause some traders to short CityDev . However , after the stock breakdown, it recover for the next 3 days. Those who shorted previously , now want to cover back their short position since they are caught on the wrong side of the trade.This may cause the price to go up. Another thing to take note is the decreasing volume of the stock for the last 3 days as the price move up. Once the short covering is done in the next 1-3days, this stock may turn down again.

today 28/6, exactly 3 trading days later, it is down 2.1%. In the next few days , it may test support at 10.00. The stop loss maybe slightly above the last swing high at 10.60.