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Friday, February 12, 2010

STI Updates



So where will this technical rebound (or so I believe) stop? So far, from the GMMA, if the red lines were to touch the green lines again, we could see STI retest 2800 again. However, for STI to close with a hanging man on the 100MA, we might start to see a mini correction soon.

To confirm, I looked into the hourly Elliott Wave count from Yahoo Finance. Indeed, a 5 waves structure has formed, as can be seen from the picture.




Looks like correction imminent, after which, a possible larger rally to 2800? Let's see how it goes.

2 comments:

  1. Nice technical stuff man. Can add my site also? Hope you huat2!!
    tks.

    ReplyDelete
  2. Hi Extreme Power,

    thanks for dropping by. May I know your finance site?

    ReplyDelete

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