2300++ Double Support Test

After the index touched 2,289.21 in the day’s low and a closing of 2345.68 last July 03, 2008 , the market have somehow managed to bounce a little and is preparing for a double support test. If enough support is achieved at this level, this may be a good sign of investor’s exhaustion on the oversold levels. 

But the technical merits might not be enough. With the weakness of the US economy, oil price’s uncertainty and local inflation’s pressures, we might not be seeing just yet the end signs of our local bear market.