18 October 2019

Wave 3 Continuing

After forming Subwaves i and ii (brown) of Wave 3, the STI has started the development of Subwave iii (brown) by forming Minor Subwaves i and ii (green). Minor Subwave ii (green) may not have completed yet. After it does so, Minor Subwaves iii, iv and v will form to complete Subwave iii (brown).

All these mean that we should see a strong uptrend continuing well towards the end of the year. But a word of caution: Market risks are still very intense and the wave development can morph into a corrective structure. It can be clearly seen from the chart that the STI is still trapped within the longer term sideways trend.

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