18 September 2020


Over the week, the STI has gradually gone up, getting further away from the potential neckline (in blue). This provides some relief but the uncertainty is not over. The danger of a Head and Shoulders formation is still there due to the proximity of the STI to the neckline. The uncertainty is likely to remain for some time, because the STI is likely to continue going sideways. This is particularly due to the worry over the outcome of the US elections compounded by the worsening US-China issues.


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