PeterTing

PeterTing

Referring to the previous post, As projected, the KLCI has reached the 1853 (R2) and currently we might be looking for temporary retracement. Let the rally continue to stay bullish and see the index testing the next resistance, R3 @ 1866.

PeterTing

Target 1: 1.78, Target 2: 1.83, Target 3: 1.90 Support 1: 1.69, Support 2: 1.67 Support 3: 1.64

PeterTing

On support @ 0.275 - 0.285

PeterTing

1. A breakout of 0.65 resistance with a large volume and followed by a supply testing with low volume. 2. The current price is supported by FR 38.2% of S2. Previous FR support (R1) is also 38.2% of S1. 3. Immediate support levels = 0.615 and 0.57 4. Immediate resistance = 0.65 and 0.695.

PeterTing

1. The FBMKLCI index continued to stay above most bullish indicators (SMAs, Ichimoku, Donchian etc..) and is moving on sideway range between 1820 - 1830. Overall technical picture is still in a bullish state. 2. Expecting a further gain towards the previous high at 1840 (resistance-1), 1853 (R2) and 1866 (R3) levels. 3. As it is believed that wave-5 is pending to...

PeterTing

1. Waves pattern indicated that a possible wave-4 just ended on the FR 50% of wave-3. 2. This followed by a reversal candlestick called “Bullish Engulfing”. 3. The immediate resistance / target will the previous high at 0.665. Disadvantage - Current price now showing a relatively poor risk:reward ratio (refer to chart).

PeterTing

1. Rounding bottom breakout 2. Price currently supported at FR 38.2% = 0.405 3. Another stronger support seen at FR 61.8% = 0.36. 4. The target for the next extension will be around 0.48 - 0.525.

PeterTing

1. Strong wave -3 with 6 days of 20-days breakout. 2. Small correction in wave 4 3. Immediate support @ FR 38.2% & psychological support at 1800. 4. Based on fibonacci extension levels, the next immediate target of the next wave could be 1853 and 1866. Market have high chance to rally on the upcoming events such as C-N-Y and most important anticipation of...

PeterTing

1. Pending to complete Impulsive Wave 5. 2. The wave 5 extension is expected to reach 2.40 - 2.43, which is 161.8% extension of wave 4. 3. Wave 4 ended with a support at 2.15, close to the current price now @ 2.21 4. At current price to the support and target price the risk : reward ratio stands at almost 1 : 3

PeterTing

1) WCT price action has completed 8 Elliott Wave (EW) pattern in downtrend 2)In completing the corrective wave "C", a) the price action had stood above the Kumo cloud and b) broke out above the upper band of Donchian channel. These indications tell us there is a high chance of bearish trend reversal. 3) The point of C is higher than A which...