27 Jan 2022 ‚óŹ 05:47 AM

KLSE index saw a five-wave rise in wave 1 and an expanded flat in wave 2. The recent positive close indicates that an expanded flat pattern in wave 2 is possibly complete around the 61.8% retracement level of wave 1. This would mean that wave 3 can now possibly unfold. 

The longer-term picture says that the index has been in a consolidation phase for more than a year now. Possibly with the recent impulse move from the bottom, wave 2 consolidation has possibly matured and wave 3 of a larger degree may unfold in the coming months. 

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