Continued from STI Analysis — the next peak and trough ? (36)
Till now, STI still yet to reach a confirmation of either it is in a scenario of post-correction or still in correction. The following analysis shall be on the scenario of post-correction only and awaiting for confirmation signals to rule out the still in correction scenario.
The above chart is the possible trajectory for the post-correction scenario. STI ended the P2 wave at 2955.68, completed the M1 wave at 3192.88 followed by the M2 wave at 2993.42. Following that sequence, STI is now in the M3 wave with a potential target of 3377.21 going by Fibonacci ratio. The M3 wave will not be a straight line moving up and a 5-wave sub level should be visible at the following calculated level. m1 = 3165.06 m2 = 3058.99 m3 = 3336.70 m4 = 3230.62 m5 = 3377.21 STI as of now