Saturday, June 1, 2019

Weekly Update

Dow (24,815)

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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