Weekly Analysis
Counting the bear term, is possible sti is forming wave 4 preparing for last huge wave down to make the bottom. If this is true, for major wave, previous STI reverse at the point close to Stochastic 90 while current level 65. Thus, there is room of continouing is bulliness for this week and soon will turn to into grey area for another week or 2 before plunge? Seems current momentum might trap by Fibo 23% 1940-60 (Nov High) region. 2nd scnerio if STI die die follow previous Fibo 38%, Previous wave 3 technical rebound hit the fibonacci 38% too. If tast the case, that will make it 2170 region. In other words
To Long: upside is limited, risk is high.
To Short: Is too early, no confirmation of bearishness yet.
STI Daily Analysis
Resistance, 1806 (Broke), 1828 (Friday Close), 1854, 1889, 1940-60
No comments:
Post a Comment