Continued from STI Analysis — the next peak and trough ? (37)
Most would say the correction that peg STI for almost whole of 2018 has ended at 2955.68 now. Well, technically, STI still waiting to breakout from 3338 level to confirm that but from Elliott wave analysis perspective, early signals could be pick from here and there to affirm that before the confirmation.
The only way to qualify that is to analyze the wave count from both the top-down and bottom-up approach and if both converge, there is no reason not to qualify the case. Have done this analysis last year before and with new levels and development, going to re-do to ensure the convergence. What going to use this time is slightly different from last time. Previously, was using the Elliott wave basic model of w1 : w3 : w5 = 1 : 1.618 : 1 but now will be