After topping at 2839.39 on 9th Jun 2020, STI fell for the next 3 sessions to hit an intra-day low of 2609.03 on 12th Jun 2020. The drop affirms the formation of Minor wave (a) of Intermediate wave ((c)) of Primary wave 4 as shown from the chart above. The ongoing drop is the Minor wave (b) of Intermediate wave ((c)) of Primary wave 4. The question now is when this Minor wave (b) will end.
The above is generated by the Correction Calculator on the Intermediate wave ((c)). The intra-day low of 2609.03 as noted was 65.9% Fibonacci retracement of Minor wave (a). Given the guideline that a typical zigzag pattern for wave B can retrace between 38% to 79% of wave A, the Minor wave (b) could have ended on 12th Jun 2020. However, from the chart above, focusing on the portion of Intermediate wave ((a)),
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