Crude oil WTI closed the week at US$ 50.81 a barrel, resting on top of the lower support line. This could be the wave e of sub-wave ii of its major wave 4.
I am assuming its major wave 3 has ended in January and its February's candlestick is the first candlestick of wave a of its major wave 4.
Dow (18,140)
When many Asian bourses were closed for the Chinese New Year celebration on Thursday and Friday, all the three major indices in the US, namely Dow, S&P 500 and Nasdaq closed the week at new record highs.
If Dow can proceed from here to break the upper trend-line, the current run-up could be the sub-wave iii of its wave (xiii).
But if Dow is unable to break its upper trend-line, then it is on its way to form wave d and e of its wave (xiv).
FBMKLCI (1,807)
Hopefully KLCI has ended its major wave 4 in December 2014 and it has started its major wave 5 that could possibly last until January 2017.
If minor wave iv has only 3 small waves, it is possible that KLCI is forming the minor wave v of mini wave 1 of its sub-wave i of wave (i) of major wave 5.
KSL Holdings Bhd (Rm 2.24)
Finally, KSL was able to close above the upper resistance line of its flag formation.
My minimum price target for its current run-up is Rm 2.50.
.
No comments:
Post a Comment