<Kindly refer to the complete set of wave forms at previous session KLCI waves 6 if necessary :-  https://klse.i3investor.com/blogs/E_Wave/2020-05-11-story-h1506995648-KLCI_waves_6.jsp >

For today, KLCI tested the upper line of the symmetrical triangle formation. To recap, there were 2 potentials view as mentioned on previuos session "KLCI waves 6". 

For bearish view, it is still hold and sub minuette 3rd wave could be on its way down with lower degree of sub minuette 1 and 2 which had been fulfilled by testing the upper triangle line without breaking the high of wave ii at 1418. As these would be the 3rd minuette sub wave extension towards down, the tendency for realizing these 3rd minutte sub wave would be more prominent if the lower triangle line broken and closed below 1369.

For bullish view, sub 4th wave correction is being formed with 2 possible triangle formations before sub 5th wave upward.

(1) Symmetrical triangle with "a-b-c-d-e" waves forms OR

(2) Expanded flat with "a-b-c". 

If waves goes to (1), "d" wave realized at upper triagle line of symmetrical triangle and next "e" wave would head to lower triangle line before breakout upwards to initiate sub 5th wave up. 

If waves goes to (2), Expanded flat would be archieved if it could breakout from triangle without "d-e" waves which to end sub 4th wave correction at "c" and following by sub 5th wave up. 

Last but not least, both bullish view above is sharing the similar criteria of continous upward movement if it could close above "b" wave at 1418.42 convincingly. Upward momentum could bring KLCI to around 1450 which was just beneath the upper trend line.

Wave Believer