Sunday, June 18, 2017

Weekly Update

Crude Oil WTI (US$ 44.70)

Crude oil (WTI) price dropped continuously for 4 weeks from a high of US$52.00 a barrel to Friday's closing price of US$44.70.

It is highly possible that it has completed its wave 4 of C and is on its way to go below US$25.00 to complete its wave 5 of C. This is going to be bad for oil producing countries like Malaysia.

Dow (21,384)

Dow set its 21st record high for 2017 on Friday. It is about to complete the mini wave 3 of its sub-wave v. Next pullback will be the mini wave 4 that can last about a month. Mini wave 5 can take another month.

If both sub-wave v and wave (v) have only five waves, the major wave 7 is likely to complete by end of August.

FBMKLCI (1,791)

KLCI is about to complete its sub-wave vii. Similarly if wave (iii) of B has only nine waves, it is expected to end before September.

ATTA Global Group Bhd (Rm 1.45)

ATTA may take another day or two to complete its mini wave 4 before moving higher again to form the mini wave 5 of its sub-wave iii.

From end of May until last Friday, ATTA has gained 37 sens (from Rm1.08 to Rm1.45) or 34%. But its Warrant-B has moved from 25 sens to 72.5 sens for a gain of 190%.

EG Industries Bhd (Rm 0.84)

EG is about to complete its major wave 4.

Hopefully its major wave 5 can start next week.

Gadang Holdings Bhd (Rm 1.29)

Gadang is about to start the sub-wave v of its wave (v) of its major wave 3.


No comments: