Straits Times Index to continue drop

After sliding from the peak of 3,550 in April for almost 6 months, the STI             has been rallying for the past 3 weeks to 3,068. Based on my analysis, the 6 months bear was a 3-wave             correction, with the existing rally acting as the 2nd wave of the bigger trend.

With that in mind, the STI             may continue its decline at the 0.618 level at 3,237.
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