FBMKLCI (1,256) - Wave 7 completed ?

KLCI dropped another 24 points on Tuesday after the Monday's plunge of 64 points. Has it completed its mini wave 7 of its wave (iii)?

If Tuesday's intraday low of 1212 is the end of the mini wave 7, the next rebound is likely to be the mini wave 8 of (iii).

If mini wave 9's magnitude is about the same as that of mini wave 3 and 5, it is likely to end at around 1150 level.

If wave (iii) has only 9 mini wave, it will end at 1150 level before having the next wave (iv) rebound. But wave (iii) can have more than 9 mini waves too. Be careful.

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