29 July 2006
STI - Daily / Weekly Charts (29 Jul 06)
Weekly - morning star + inverted hammer, and a db formation is in the making
Daily - a db formation is in the making, nl 2450, db tg 2622 which exceeds 2517, the 61.8% rebound level of total loss from 2666 to 2278. Major bulls need to break out this nl 2450 with heavy volume to convince the market, wave c of wave B (consisting waves a b c, 3 waves in total) bear rally is in still progress. See charts below.
Weekly - morning star + inverted hammer, and a db formation is in the making
Daily - a db formation is in the making, nl 2450, db tg 2622 which exceeds 2517, the 61.8% rebound level of total loss from 2666 to 2278. Major bulls need to break out this nl 2450 with heavy volume to convince the market, wave c of wave B (consisting waves a b c, 3 waves in total) bear rally is in still progress. See charts below.
