KLSE Composite

KLSE or Malaysia has been in a bearish market for years. I maintained that the 2016-2017 rally was A-B-C and corrective because of the blue triangle. But now we are falling back to near a double bottom near 1504. The falling pattern is like a falling wedge typically seen in the last phase of a correction so it could mark a final decline for this phase down to 1535. The pattern is still forming but offers hope going forward for the next few years if we hold the double bottom lows and start a move up from there.