Occult always lead to eventual collapse

In my earlier entry on 20th May 2023, I noted spontaneous surge in viewership. There were 2 spikes one with 143 views followed by 68 views. I did not know at that time what the people were looking for.

After my last week's entry, I finally knew.  

There was a whopping 430 views after my address on the present US resistance against the woke culture. 

While I may feel good about having viewership of such size, it will not last and once the heat dies off, it will be gone. I should just stay on course with focus on technical analysis, after all, my JC teacher ever told me not to discuss on politics as I tends to be subjective.

It has been quite a while since I update the Malaysia situation. I have meant to include an entry in March 2023, the article was a little tough to complete at the time for some reason, coupled with the death of my father, led me to put aside that entry, 

I have decided to put it on freezer since it was outdated when I came back to blogging.

I came across MYR today while running through the forex charts, it compels me to have this entry one way or another. Just for comparison, I have included the charts I did earlier for time lapse comparison.

I went through GBP, EUR and SGD and noted continuation with USD weakens against all these components, with exception of MYR. 

Fig 1. MYR weekly chart (earlier work in March 2023)

I have noted MYR weakness against USD in March 2023, with the chart broke through and stayed above the moving averages. It has a high potential of further weakness against USD.

Fig 2. MYR weekly chart (latest update)

After its correction to the moving average, the pair continues to trust upward, with MYR continue to devalue against USD.

what does this mean? 

My aunt was a little sour when we met while I was in Malaysia this round, claiming that my family is having a better life in Singapore. I did not understand what she meant at the time.

If USD is in process of devaluation, weaker MYR against USD only means that MYR is performing even worse. 

Smaller MYR leads to escalating inflation with prices souring upward. No wonder my every return met with higher expenditure on food. The only solution will be focus on home cook as grocery is the only thing where government with some power to price control, like chicken and oil.

Looking at the chart, it has already broken the 61.8% retracement and testing the 78.6% retracement of 4.6341, congesting below this level, forming a flag with potential to go higher.

It is also reaching the 61.,8% projection of 4.6884 with further objective of 4.9760. MYR5 for 1 USD is becoming true as we speak.

Fig 3. SGDMYR weekly chart (earlier work in March 2023)

Looking at my work in March 2023, SGDMYR has just broken the neckline of a double bottom and poise to go higher with a weaker MYR against SGD.

Fig 4. SGDMYR weekly chart (latest update)

With the latest up-date, the direction has not changed with continuation upward. It has surpassed the 61.8% projection resistance at 3.4313 with further objective of 100% projection at 3.568.

It has however reached its short term 100% projection of 3.4400 with the next resistance of 3.4787.  

I suspect there may be a correction coming before heading higher.

Fig 5. KLSE (KLCI) weekly chart (earlier work in March 2023)

In my March 2023 read, there were already multiple indications further downtrend. Worst was the completed head and shoulder formation with retest of the neckline completed. It was already firm at the time that KLSE (or KLCI) was going down.

Fig 6. KLSE (KLCI) weekly chart (latest update)

In the latest chart, it is clear that KLSE has just past the 61.8% retracement lineof the uptrend during the pandemic. It pauses this week to retest this resistance line at 1,391. I suspect it may go further to the moving averages before heading further south with head and shoulder objective of 1,255. 

It is also very close to reaching its 61.8% projection line of 1,359 with 100% projection at 1,270. 

It is really a concerning that Malaysia, a country with so much natural resources, continue have its economy being flush down the drain. I am really sad to see my country reaching such stage of deterioration.

Mean while, what is the government doing with Anwar Ibrahim as its leader? 

Nothing?

well, not really. 

There was a recent movie release about Anwar Ibrahim and his drive for "refomasi". Such "heroic" act, escalating his status equal that of Mandala. 

But no, he is not Mandala. Far from it, there is no effective measures issued from the government to improve the economy. Moreover, they focus their energy on confrontational act against critics and opposition to have them silenced.

I am no fan of Mahathir, I despise him as the reason for the present state of Malaysia. However, it is not the role of Anwar Ibrahim, the prime minister of the country, to personally tackle the corruption of Mahathir and his family. Yet it seems to be Anwar's personal vendetta to put Mahathir and his family in jail.

All these while he places the corrupts of UMNO in position of power, there is no more mention of pursue of accountability on these people. Zahid is very safe.

At this point of time, don't a moment think that people who voted him in push for accountability of his incompetence, nepotism and collusion. They believe in his lies of maintaining stability in the country and willing to close a blind eye on the existence of tumor within the governing body.

Malaysia is still sick and it is getting more and more serious every single day. It is run by incompetence who are unfortunately only great on their wits. I only see a continuation in the deterioration of the country.