Dow ended its wave i on Monday with a 918 points swing. Dow rebounded strongly in the next three days forming the wave ii of its wave C.
Dow is likely to continue with its wave ii run-up next week. I expect Dow to end its wave C somewhere near the 23,000 level.
Technically it is also possible that Dow has already completed the wave C of its major wave 8 with a contracting A-B-C. But personally I feel that this is an unlikely scenario in view of the on-going US-China trade war and the uptrend in interest rate.
FBMKLCI (1,713)
My reading for FBMKLCI remained the same. Wave C is likely to end around 1,500 level.
.
No comments:
Post a Comment