KLCI waves 52 - Multiple Complex Waves WXYXZ To Charge KLCI

hotstock1975

Publish date: Sun, 04 Apr 2021, 12:30 AM

Weekly Time Frame

To recap from prior session 51, the gap support of 1600-1607 was tested and closed within the gap at 1601.42 which was still beneath 1610. We need to see continuous better closing above 1610 to justify the uptrend was sustainable. Besides that, i would keep a closer watch on the UT line which could provide a support for sustaining the current uptrend and we might see more consolidation phase if UT line breached.

For the past 1 week, the selling momentum continued and UT line was breached. Although there were minor rebound,

consolidation phase would be emerged before any clearer reversal signal take place. 1610 is still the level to watch for long run.

From wave count perspective, the Higher Degree of Correction wave would be prolong with Multiple WXYXZ complex waves before a new set of Higher Degree of Bull Wave take place . Subsequent minor waves would be elaborated further in daily time frame.

1) -DMI (red line) continue heading up with lower margin indicates bearish momentum is still increasing with lower pace.

2) +DMI (blue line) continue heading down with consistent margin indicates bull strenght is still decreasing with consistent pace.

3) ADX (pink line) continue heading down implying that the volatility of the current trend is decreasing and still very low.

Therefore, the summations of the 3 signals above is still implying Bear strength is in favor and caution is still required for any unexpected knee jerk reaction. From current situaton, +DMI has crossed below -DMI lines indicating the current bear strength is in favor and consolidating before regaining the momentum in coming weeks. The current volatility is still low and continuous increased in ADX reading would justify a prominent uptrend to be developed.

Prevailing trend could be emerged if Weekly levels listed below was broken:

Resistance - 1627, 1633, 1642, 1650, 1700, 1720

Immediate Resistance - 1600, 1607-1610, 1615, 1619

Immediate Support - - 1580, 1575-1577

Support - 1564, 1556, 1530

Daily Time Frame

To recap from session 51, the most recent abc corrective wave could be quote as wave A and wave B could have underway to the upside before wave C. However, the Multiple Complex Waves structure formation may consist of various form and would be monitored closely.

No doubt that wave B had ended higher at 1611.28 as expected and wave C had taken place to the downside which had met the minimum criteria of FIBO 61.8%. Currently, sub minuette wave i-ii-iii of wave C is believed to be completed and wave iv/v are still pending. Therefore, i won't rule out that the downside target would be achieved at lower lever but limited margin unless there would be new extension waves take place within wave C.

Since Multiple Complex Wave emerged, the new set of Higher Degree of 5 Waves Bull Run or Primary Wave 3 have yet to be seen until all corrective waves are served convicingly. Thus, Higher Degree of Correction is still being prolong by these Multiple Complex Waves WXYXZ. Therefore, we will witness on how these Wave Z to be formed in different waves structure to complete the cycle.

The entire wave structures will still be monitored closely if the high of Wave X1 (1646.24) is penetraded which indicates Higher Degree of implusive Wave 1 could have emerged. Thereafter, a new set of Higher Degree of 5 Waves Bull Run may take place and Primary Wave 3 would be emerged. On the hand, the prior Higher Degree of Correction would be prolong if Wave Y (1557.55) breached.

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 change.

Prevailing trend could be emerged if Daily levels listed below was broken:

Resistance - , 1625-1628, 1639, 1645, 1650, 1662, 1679, 1685, 1700, 1720

Immediate resistance - 1588, 1595-1597, 1600, 1608, 1615, 1620

Immediate Support - 1581, 1572, 1566

Support - 1554-1551, 1538-1545

==================================================================================

Patient is required for the SUPER CYCLE Bull Run.

==================================================================================

Let's Mr Market pave the waves.

Trade safely

Wave Believer

Discussions

Be the first to like this. Showing 0 of 0 comments

Featured Posts

MQ Trader

Introducing MY's First IPO Fund for Sophisticated Investors!

MQ Chat

New Update. Discover investment communities that resonate with your ideas

MQ Trader

M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a

Latest Videos