STI Update Revisit

Straits Times Index (STI) Revisit
Following is a re-cap on our forecast for STI Index on 19 Dec 2016

A review today shows STI Index traded in similar fashion in accordance with our forecast, bouncing off the support level at Fibonacci 61.8% Golden Mean coupled with a confluence of 2 supports touching recent resistance as per chart. This is an example on the simple practical forecasting using Fibonacci Levels.

Out of the universe of technical tools, Fibonacci Levels and Elliot Wave Theory remains the essential tools for analysts and traders to conduct forecasting.