STI - Are we near bottom

STI did not manage to stay above the Jan high of 2897 despite the small rally, and in fact it has been trending below the 10 year moving average since Aug last year.

As I do not have enough data points before 2006, the 10 year moving average starts from 2006 in the graph above. The last time the STI index went below the 10yr MA was during the GFC in 2008. Apart from 2008 crisis, most of the time the STI index has been trending above the 10yr MA. In other words, only when there is "special" drastic event, then it will go below the 10yr MA.
Since investors are suppose to buy low and sell high, looking at the chart, do you think this present an opportunity?