STI has been on a sharp downtrend till it met its strong multi-year support of 1473. Even though it did break the support and went down to 1457 on 9^th March 2009, there was no confirmation on the following day to indicate follow-up selling but instead this represented the very point where the recent rally started with a gain of 100 points in 1 week. This illustrates the importance of knowing the important support and resistance levels where turnarounds are likely to happen. Currently, stochastic is pointing to STI being overbought indicating a likely pull back in the short term. However ADX is starting to turn down, indicating that the downtrend in the index may be losing its energy. Therefore, it is probable that the STI may continue to see some upside. Investors are expected to be nimble and fast-footed on the long side as we are still in a bearish market. STI is expected to be resisted at 1627 which is also close to Fibonacci 38.2%. If STI managed to break that resistance, we can expect a stronger resistance at 1676. Support for STI would be at 1527 which is the candlestick rising window and a stronger support would be at the recent low of 1456.