Monthly Time Frame

Weekly Time Frame

To recap from session 73,  the upward momentum was continued to be strong and traveled beyond FIBO 50% level (1541) to close above SP and DT line. Since 1552.07 was penetrated, wave C structure (1-2-3-4-5) had been revised and shorten where wave 5/wave C to end at 1483.73 as labelled. Besides that, i was still retain the prior revised corrective sub minuette waves a-b-c as there were irregular complex waves formed during sub minuette waves a-b. Therefore, i was Assuming sub minuette waves c could be an extension corrective wave in the form of 3 or 5 waves structure to the upside as labelled.

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For the past one week, KLCI had failed to stay above 1600 and pulled back which created an Bearish Engulfing Candle Formation and realized immediately the following day. Therefore, downward pressure might emerged in coming days to lower level. With my wave count assumption, extension of sub minuette waves c is still underway with 5 waves structure where micro sub minuette waves 3 has been completed and micro sub minuette waves 4 is being structured with a possible target of 1559 (FIBO 50%) or 1548 (FIBO 61.8%). On the other hand, i won't rule out that the extension's momentum could still lead KLCI for further upside before a greater pull back emerged EVEN DT and SP line were penetrated last week.       

Although wave C had been justified, i am still leaving Wave Z alone since the assumption of new corrective wave above is yet to be justified.  

To reiterate, Wave Z could be formed in various correctives wave structure (Zig-Zag, Flat, Diagonal and etc) with momentum changes. 

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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 convincingly unless Wave X1 (1646.24) is penetrated. Thus, Higher Degree of Correction is still being prolong by these Multiple Complex Waves WXYXZ. 

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 - 1615, 1620, 1625-1628, 1639, 1645, 1650, 1662, 1679, 1685, 1700, 1720

Immediate resistance - 1590-1593, 1600, 1608-1610

Immediate Support - 1583, 1574, 1570, 1562-63, 1556-1560

Support - 1544-1548, 1540, 1535, 1530, 1528, 1525, 1512, 1505, 1500, 1495, 1490, 1484-1488, 1475 , 1461-1466, 1452, 1435