As I have explained before Crude oil is forming its major wave 4 and it is expected to last for another 12 to 15 months.
There is this possibility that some other commodity may start to move higher together with crude oil.
Dow (17,535)
If Dow is forming its major wave (7) the current correction is likely to be its wave (ii).
If wave (ii) is a simple and shallow a-b-c then it may end within the next one to two weeks. But if it is going to be a complex wave, then it may last more than a month.
FBMKLCI (1,628)
KLCI is expected to continue with its sub-wave ii formation and its is not expected to complete in the near future. Hopefully it can hold above 1,600 level. Once it goes below 1,600, I will have to revise my current wave count for KLCI.
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