Sunday, May 8, 2016

Weekly Update

Crude Oil WTI (US$ 44.61)

It appeared that wave (v) of 3 has shortened its journey and has already been completed. My expectation of one more down has vaporized.

If major 3 has only 5 waves and are completed, then the current up trend is likely to be the major wave 4 which has a potential target of US$ 80.00 within the next 12 to 15 months.


Dow (17,740)

It is quite clear by now that Dow has completed its sub-wave i and is currently forming its sub-wave ii of its major wave (7).


FBMKLCI (1,649)

KLCI is forming the wave a of its sub-wave ii. It has a potential low of 1,600. Next rebound is likely to be the wave b of ii.


Instead of looking at the stocks, it is advisable to watch out for the next explosive news from 1MDB.

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