On the right show STI weekly candlestick. Typical recession form 5 wave down before bottoming. Currently at?? Wave D Uptrend. So how far it goes for this rally? Previous Wave B hit objective of 38.6 fibonacci. Thus, we are expecting this trend to hit 2100 -2200 objective. Comparing the Stochastic, it simply tell us there are room for further upside before Wave E.However, today daily chart form consencutive 3 days black candle. My take is correction for the market is around the corner after massive 6 weeks rally. Everyone scratching their head now, where this correction heading?? Could it be filling 1837-1846 gap. I think so.. Good entry point for accumulation at the Gap for further upside.
Again, TA doesn't 100% accurate. I am reminding myself again market is unpredictable.
No comments:
Post a Comment