Straits Asia Resources is apparently still in the down trend, trailing below the 20-day simple moving average (20-day SMA).

The recent low of 1.46 has turned into a near term support. If this support can be maintained, coupled with more trend reversal indications, 1.46 might turn out to be the bottom. One such bullish signal would be the breakout of the current resistance at 2.07.

In the meantime, Straits Asia will move within the range of 1.46 and 2.07 with the tendency geared towards down.