FBMKLCI in the midst of completing a flat correction
Based on the wave structure, FBMKLCI completed 5 waves leading diagonal from 2009 to 2014.
FBMKLCI embarked a correction in 2014, and the pattern is still unfolding.
Based on the recent retest of historical high in Q2 of 2018, it is finally apparent that the rally from 2015 bottom was a wave B of the overall flat correction.
Since the internal structure of flat is 3-3-5, expect a 5 wave decline to unfold, before concluding the current flat correction.
FBMKLCI embarked a correction in 2014, and the pattern is still unfolding.
Based on the recent retest of historical high in Q2 of 2018, it is finally apparent that the rally from 2015 bottom was a wave B of the overall flat correction.
Since the internal structure of flat is 3-3-5, expect a 5 wave decline to unfold, before concluding the current flat correction.