27 August 2021

No Support

The STI lost support at the 61.8% retracement of Subwave i (red), plunging down with a gap. The outlook is bleak. Next week the STI is likely to continue further down. This could mean that Wave 4 (red) has not ended and the whole wave structure from 6 April onwards would be Wave 4. It is also possible that Wave 4 could fall below the red line in the chart, but hopefully by not much. We wait with bated breath.

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