So far STI’s chart has a bearish outlook.
- STI is currently trading in Elliott Wave B and hitting 50D MA resistance. Expect STI to pull back to end Elliott Wave B. If STI breaks the 200D MA support, Elliott Wave C will start.
- STI is in the process of forming a Head and Shoulders with neckline at 2,660. Breaking below this neckline will send STI to 2,287.