TF60
Already breakout from TF60 falling wedges. Supposedly it indicates correction is finished.
TF5
Correction in smaller TF. Broadening triangle. Seems on partially decline. however, there is possibility to fall to bottom trendline. Hopefully touch down first before upward breakout.
Previously i had posted about FCPO's harmonic pattern. The pattern has changed and form 5-0 pattern as it broke 2396 yesterday. Below is the yesterday chart.
As today chart TF60 broke the upper trendline, if it is solid, then expecting for it to reach 2470.
SOYBEAN OIL
This is the continuation of previous post on soybean. Finally the 38.2% level broke. TP is underway now. TP1 at 1.27% and TP2 at 1.618%.
USD/MYR
This is weekly chart of USD/MYR. Lately this is our malaysian concern. From this pattern, we expecting RM to continue depreciate to above level before retrace 50%. Get prepare for another wave for selling. The fibo 2.24% is at 3.3530.
Happy Shopping soon.
KLCI
Key point:
1) If we see at the pattern of currency USD/MYR, the depreciating of MYR, will give strong buying power to foreign(importer) to buy FCPO. Therefore this will lead to higher export rate and will drive price higher.
2) Still regard to Currency, KLCI is expecting to go down further soon after some pullback. Expecting it go lower than previous low 1660. After that, do not forget to do some shopping, because expecting RM to recover to 50% fibo retracement. During Year End/Early Year as usual?