Dow - On its wave D of Major wave 8

Dow (24,737)

Dow is about to end the mini wave 3 of its wave i of D.

After completing its wave D, a normal wave E will end around 21,300 level before Dow starting its major wave 9. But wave E is more likely to fall short or overshoot. A failure E is likely to end at 23,000 level whereas an overshoot wave E is likely to reach 21,000 or lower.

Major wave 8 is likely to end within 2019 before the starting of major wave 9 for a new bull run.

The most optimistic scenario is a failure wave E due to the building up of strong momentum for the major wave 9.

Bursa Malaysia is likely to follow Dow for a small run up before Dow completes its wave D and will go for another bearish phase when Dow is forming its wave E of 8.

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