Felda Gobal Ventures (Rm 1.77)

FGV was unable to hold above Rm1.82 level on Monday. It dropped 5 sens to close at Rm1.77.

With this drop, it is confirmed that FGV is forming the wave a of its wave (2).

If wave b gives it a 'Head & Shoulders' formation, then the subsequent wave c may bring it to Rm1.40 or lower.

Dow (17,482)

Wave b of iv has started.

Global equities were boosted on Monday when it was reported that Japanese third quarter GDP contracted by 0.2% quarter-over-quarter. The markets expect more monetary support from the Bank of Japan.

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