Candlestick pattern Tower Top emerged, time to reverse. Post-Malaysia Election, ringgit weakened. Rise from 3.948( 9/5/18) to 4.049 (3/7/18) to conclude wave i (probably?). Based on the reversal pattern (tower top), supported by the RSI that shown overbought signal and bearish divergence, we can expect USD/MYR will move downward for correction. Possible target...
Current downward movement of FBMKLCI suggest that the corrective wave are still intact. 5 subwave sequence of wave C in the making. Index falling to complete the subwave iii of wave C.
Possible target for wave iii : 1650/1600
Possible target for wave C : 1550/1500