KLCI waves
KLCI waves 12 - update
hotstock1975
Publish date: Thu, 25 Jun 2020, 11:37 PM
hotstock1975
0 101
Elliot wave analysis to measure price behavior for projecting next price actions
Today, KLCI has broken below 1490.44 and the tendency for Wave C being constructed is very high which qualifying senario (2) mentioned in prior session. It had gone as low as 1484.4 which closed to the minimum potential target for higher degree of 4th wave at 1483.79.
Even though the minimum target has met marginally, Wave C has yet to be realized as i am seeing the current entire correction structure could be an Zig Zag formation (5-3-5) and it currently forming the final 5 legs (sub minutte waves) further down to complete Wave C at lower level. To be more details, sub minutte wave i & ii has been realized and sub minutte wave iii is underway. Besides that, lower CT line has been broken which indicating possible weaknesses ahead and this CT line will act as an resistance for any bounce up action.
The entire correction waves would still be monitored closely to anticipate any possible complex wave form structure being emerged.
Immediate Resistance - 1504 (CT line)
Immediate Support - 1480
All waves' count and projected target are generated based on past/current price level and it may be subjected to vary if degree of momentum movement has changed.
Trade safely
Wave Believer
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