STI 27/02/2012 - Elliott Wave update

STI 27/02/2012 - Elliott wave update on STI.

Previous update for STI is here.

We may have completed the 5 waves smaller impulse of a larger bullish impulse. We might now be trading in a corrective waves. Wave A being kicked off last week. We might see a 5 wave down impulse to complete wave A followed by wave B and C. After that we might see another push above the recent highs.

Breakaway gap resistance at 2986 and psychological resistance at 3000. This view holds true as long as STI remains below the recent high of 3031.

Just a personal view. Not an inducement to buy or sell.

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