I posted this on 31th May

“STI daily chart

Today is an important day for STI, I have drawn the channel for STI, so far the chart show that STI retracement is corrective in nature. From the channel lines, we can see that today is quite another day. If STI break below the centre channel line, we may correct to the next channel line”

Exactly , 6 days later today , it has done that. I am amazed. Not just by the drop but by the speed of the drop. Let’s look at today chart.

It has almost drop in a straight line. Today is another important day for STI, if we close below this channel line within next 2 days.We may have a change of trend in the STI. This is a very important uptrend line. I will say more important than the middle trendline. It is vital not to assume a change of the big trend until further confirmation.