Sunday, February 21, 2016

Weekly Update

Crude Oil WTI (US$31.95 a Barrel)

Crude Oil has completed its mini wave 3.


And it has started its mini wave 4 rebound. If it is an a-b-c mini wave 4, this rebound may take another 6 weeks to complete.


Mini-wave 5 may take the price to below US$ 26 a barrel.

Dow (16,391)

My reading for Dow remained the same. It is either forming its major wave (7)


or it is half-way through its mega wave 2 correction, which is expected to be an ABC-X-ABC corrective wave.



FBMKLCI (1,674)

So far so good, wave (iii) of major wave 5 is progressing nicely.


Pan Malaysia Corporation Bhd (Rm 0.31)

PMCorp is forming its mega wave (5).


With last Friday's red candlestick, there is a possibility that PMCCorp is going for a diagonal sub-wave v to complete its wave (iii).


But if it can break its upper trend line on Monday or Tuesday, then there is a long way to go for it to complete its sub-wave v.



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