STI – Bearish Outlook

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.

This Post Has 2 Comments

  1. CK

    aw~~ good one, i missed out the heads and shoulders when i was seeing this chart

  2. Marubozu

    Everyone see chart differently. Actually I learn more when I share my analysis because I will be receiving comments from more people!

    Sharing is Wealth! 🙂

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