20 August 2021


The STI found support at the 61.8% retracement of Subwave i (red). There is no guarantee that it will continue to go up next week, but the probability is high. According to the Elliott Wave Principle, the most common retracement of a second wave is 61.8% of the first wave. Nevertheless there is a small probability that Subwave ii (red) has not ended. It could drag on further sideways by forming an X wave followed by a Z wave. I hope not.

Previous    Archive     Next