test4

Thursday, August 20, 2009

STI Falling Wedge?

Instead of the descending triangle described yesterday, the lower low today made it seems like a falling wedge (too tired to chart today after IPPT)

Monday's target is still on track for an a-b-c correction

Sub a: 2700 ~ 2542
Sub b: 2542 ~ 2631
Sub c: 2631 ~
.......................2522?
.......................2467?
.......................2412?


STI managed to hit 2522 today. To me, this is the most likely target because we are near the support line that stemmed from March 09.

Tomorrow might be the commencement of wave 3. STI has bounced of the multi-resistance line on 5th August at 2700, and trend along to find another path of lesser resistance to advance further.



Pivot calculations for tomorrow:
Pivot 2540.083


R1 2558.787
S1 2504.077
R2 2594.793
S2 2485.373
R3 2613.497
S3 2449.367



How much will the rise be for tomorrow? It's anyone guess.

I better go sleep soon... Tired out after my IPPT silver achievement today ;)



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