For the week just ended, Dow was affected by the escalating tariff war between the US and China and it moved lower from Monday to Thursday with a technical rebound on Friday.
If Dow has ended its major wave 8 in May, it is possible that Dow is forming its wave (ii) at this moment.
But it is also possible that Dow is forming a complex major wave 8 of ABCDE-X-ABC at this moment in view of the tariff wars. That means major wave 9 has not yet started. Dow needs more time to complete its X-ABC.
FBMKLCI (1,692)
KLCI dropped in tandem with the Dow in the last 5 trading days and completed its sub-wave v in the process. The coming rebound can either be the wave (ii) as shown,
Or KLCI has just completed its wave (iv) and has another wave (v) to go before going for its major correction.
.
No comments:
Post a Comment