STI did see a zigzag since the drop from 9th Jun 2020 but the question now is where and when will the Minor wave (b) of Intermediate wave ((c)) ends. The intra-day low of 2574.85 on 25th Jun 2020. The rebound on 26th Jun 2020 could suggest 2574.85 is the end of Minor wave (b).
Above is generated from the Correction Calculator. STI 2574.85 is 75.7% Fibonacci retracement of wave A. This figure fits the guideline that wave B typically retraces 38 to 79 percent of wave A. Thus, the possibility is there. One comforting sight was the selling down since 9th Jun 2020 lacks volume. Apart from a volume spike on 19th Jun 2020, the general trend was declining in volume as STI fell. The spike in volume on 19th Jun 2020 was due to that day being quadruple witching. Those in the stock market for long enough should know what happen on this day.
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