Continued from STI Analysis — the next peak and trough ? (64)


Since rebound from 2208.42 on 23rd Mar 2020, STI has staged a zigzag shape on the rebound.  As shown in the above chart, this zigzag pattern is definitely the Minor degree given the time frame it needs to develop (in term of week).  The question of whether this rebound is Intermediate wave ((iv)) of Primary wave 3 or Primary wave 4 at the moment still remain possible for both cases.  However, within the next few weeks it should be clearer.  Should it be Intermediate wave ((iv)), the pull back next will break below 2208.42.  On the other hand, should the pull back able to stay above 2208.42, that should be the Intermediate wave ((b)) of Primary wave 4.  The later case would be the best outcome despite both still pointing towards the bottom of this crisis