At crucial moment I always prefer to look at the Industrial Index instead of the FBMKLCI. I noticed that Industrial Index tends to move ahead of FBMKLCI.
Same as Dow, the Industrial is either going for (I)-(II)-(III)-(IV)-(V) wave formation as shown above. In this case, the current (IV) is almost completed.
Or, it is heading for a big A-B-C formation as shown above. Have to wait for the next few days to see which option is the one. One negative factor is the Index has dropped below its lower channel support line.
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