Friday, April 15, 2016

Crude Oil WTI - Going for its last plunge ?

Crude Oil WTI (US$ 40.41)

It appeared to me that crude oil price has completed its mini wave 4 rebound.  


Mini wave 5 is likely to retest its previous low of US$ 26.00 to complete the sub-wave v of its wave (iii).


I expect the next wave (iv) rebound to last for more than a year and can reach as high as US$ 60.00.

Dow (17,897)

Dow closed at 17,897 on Friday.


If crude oil's rebound has ended, it is very likely that Dow has completed its sub-wave i and it will come down in tandem with the crude oil price.

FBMKLCI (1,727)

If crude oil price were to retest its previous low of US$ 26.00, I would expect the Ringgit to drop and KLCI to move lower in tandem with crude oil price and Dow. Because of this reason I have revised the wave count for KLCI.


It is possible that sub-wave i has ended. Be careful.

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