From its weekly chart, it appeared to me that crude oil is going to have five waves for its wave c. Wave (iv) is going to end above US$ 60.00
Dow (20,656)
Dow is forming the sub-wave v of its wave (v). I expect Dow to complete this sub-wave v by late April or early May.
IF wave (v) has only five sub-waves (i-ii-iii-iv-v) and IF major wave 7 also has only five waves ((i)-(ii)-(iii)-(iv)-(v)), Dow is going to start its 15% pullback for its major wave 8 sometimes in May. All major world markets are expected to drop in tandem, including Bursa Malaysia, unless wave (v) or major wave 7 has more then five waves.
FBMKLCI (1,741)
As what I have mentioned previously, to tie in with Dow's 15% correction, it becomes possible that KLCI's current up-trend is the wave B of its mega wave (6). Wave C of mega wave (6) can have a similar 15% drop.
EG Industries Bhd (Rm 0.91)
Hopefully EG can complete its major wave 5 by early May.
Time is running out for EG, it has to complete its sub-wave iii, iv and v before KLCI starts its 15% correction.
Gadang Holdings Bhd (Rm 1.31)
Gadang is expected to complete its mini wave 3-4-5 within the next 3 to 4 weeks.
Inari Amertron Bhd (Rm 2.04)
Inari's current pullback is likely to be its mini wave 6. It still has mini wave 7, 8 and 9 to complete from now until May.
Insas Bhd (Rm 0.93)
Insas's candlestick and volume on Friday is a big disappointment to me. But it is still possible that Friday's candlestick is the minor wave iv.
But if Dow is going to drop 15% and KLCI is going to move in tandem with Dow, it is more likely that Insas is forming the wave b of its sub-wave iv even though it is not acceptable technically to have the highest volume for wave b.
With this wave count, Insas can move in tandem with the rest IF Dow and KLCI are going for a 15% correction.
BUT how sure are we that Dow is going for a 15% (3,000 points) drop in May?
.
No comments:
Post a Comment