I heard many people talking about Wave 5 for KLCI / FKLI already by now. And i wonder if it's gonna happen (drastic downturn), as based on Elliot Wave Theory that after this last wave, there is gonna be a sharp pullback, as understood from some friends of mine. However, i do not have much insights about Elliot Wave theories.
Well, i'm just gonna be posting my charts as usual.
FKLI / KLCI have set new historical high levels last Friday respectively @ 1625.5 / 1620.55.
Whereby DJIA was down in the red negative territory of -124.20 points / - 0.96% at closing.
Wonder what and how will FBMKLCI be for tomorrow? Let's watch!
Resistance @ 1629 - 34 -36 -46.
Support @ 1618 - 07 -05 -1598.
I have a broker friend who told me to watch out once it reaches 1650 level. Accordingly, KLCI is still very bullish for the time being. Well, it does looks bullish. However, i'm standing on a neutral position.
Either that or... it could be a new Wave 1.
ReplyDeleteI have zero knowledge on EW still.
ReplyDeleteStill a beginner at BabyPips school. :P
Well, its not necessary to know EW, usually it adds to confusion especially if one merely uses visual without the calculations. Most people who claim to know EW only go into it skindeep without much correlation between the waves (simply draw). :P
ReplyDeleteha ha , i think knowing a bit here n there also ok ma.
ReplyDeletecan tipu tipu a bit :P draw some elliot wave pattern out.. ha ha ha ..
LOLz... but those in the know see oni sudah tau lor :P
ReplyDelete