KLCI – Possible correction soon
While we remain bullish of the KLCI, we think that the relative strength index (RSI) of the KLCI has treaded too far into over-bought territory. 
In fact, the KLCI has not been this overbought since its peak during the last bullish cycle at the 1,524 level (high) on the 14th of January 2008.
Hence, we would advice traders to adopt a more cautious stance. We still retain our bullish view, but opine that the KLCI might possibly face a small correction by the end of this week, which will provide traders the opportunity to accumulate positions at weakness and lower prices.
As a conclusion, we are calling for a small correction wave by the end of the week, and would advice traders to postpone buying in of any new positions to the correction wave.
ZL .. base on yr 3rd chart .. EW fifth wave has ended
ReplyDeleteHi juicy,
ReplyDeleteNot really >>>> The 5th Wave ain't over till it is OVER.
Still some legs for last lap?
Will you accept another 10 >>> 12 points before a drag down into the ocean?
TQVM for your comment. Regards ZL