Oct 10, TA for STI,
- Trend - Down
- Momentum - Oversold
- Volume - Slight above Average
- Candlestick - Shooting Star (Bearish reversal)
- Pattern - Downward Channel
From the daily chart, STI had rebounded from the 2522 and heading north to 2650, however the momentum is now blocked with a "shooting star" Bearish reversal. If STI can recover back to 2700, then we are still pretty much in Wave B. However, if the momentum is still in downward for another week or so, then likely we will head south to 2238.
From the weekly chart, the candlestick shows bullish reversal. It is contradicting to the daily chart. Personally, we will need to see another week of clear candle to see how market is responding to those news.
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