Weekly Update

Crude Oil WTI (US$ 49.27)

Is is possible that the wave a of (iv) is completed. Crude oil price is likely to head lower in the next 3 to 4 months unless wave a can have another surge before its completion.

Dow (17,949)

Dow is forming its major wave (7). Still has a long way to go.

FBMKLCI (1,646)

I preferred to maintain that KLCI has completed its super wave (I) with a failure major wave 5. If so then the current rebound is sub-wave ii of wave (iii).

However, if KLCI is able to move higher than the high of wave (ii) (1,660), I will need to review my wave count.