Dow will continue with its wave E of major wave 8 formation.
FBMKLCI (1,650)
KLCI continued to form the wave C of its mega wave (6).
Hopefully by the time Dow has completed its major wave 8, KLCI has also completed its mega wave (6).
USD/MYR (4.1905)
USD/MYR continued to form its wave ii of C of (2). It may go to 4.3 level to form a 'head and shoulder' reversal pattern. That should be the worst that can happen to the Ringgit, provided my reading is correct.
The next down for USD/MYR after completing its wave ii will pave the way for the Ringgit to appreciate strongly against the USD in year 2020 and beyond.
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