FBMKLCI - A Small Head & Shoulders

Mt Rainier National Park, USA

My chart reading for FBMKLCI remains the same as that posted on 31st July, last Wednesday. FBMKLCI is forming its major wave 3 currently.

It has finished wave (i), (ii) and (iii) of its major wave 3. It is forming the wave (iv) at the moment.

It has also completed its wave a and b of its wave (iv) and is currently forming the wave c.

The small rebound in the last four trading sessions can be the sub-wave ii of wave c.
If the index goes below the 1775 level in the next few trading sessions, a small 'Head & Shoulders' will be formed. The sub-wave iii can be quite sharp, it may go to 1720 level before the sub-wave iv rebound. Ultimately the wave c of major wave (iv) may end somewhere near 1680 level.

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