Tuesday, December 22, 2020

FBMKLCI (1,631) - Sub-wave iv correction

KLCI dropped another 15.97 points or about 1% today to close the day at 1,631 level. From its recent sub-wave iii's high of 1,684, KLCI has dropped about 3.1%, which is about the same magnitude of the sub-wave ii's correction of 3%. If the current correction is the sub-wave iv, KLCI is about time to start its sub-wave v.

Since the sub-wave iii's advance is only 7.8%, which is smaller than that of the sub-wave i of 10.2%, I expect wave (iii) to have 9 sub-waves.

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