Continued from STI Analysis — the next peak and trough ? (41)
As mentioned previous, the correction for STI is too shallow to consider complete for a wave 2. Thus, it is no surprising STI failed to make any powerful upside last week despite the bounce from 3183.64 on 14th Mar 2019. However, as the way STI has performed last week, it has given out further clue since the bottom at 2955.68.
Firstly, have to rule out the STI-1 scenario. This is the case whereby STI is in Minor wave 3 with start point at 2993.42 and potential end point at 3633.006 mentioned in previous analysis. This is because the Minute degree, the sub level of Minor degree has taken the time frame too long to make any logical sense. As such, this will bring STI to STI-2 scenario. STI-2 scenario is the case where STI Primary wave 2 correction ended at