Lines Construction creates order of the chaotic market behavior
This is Malaysia Kuala Lumpur Composite Index as @17th June, 2022.
The market behavioral patterns are similar to any other market from the Technical Analysis point of view, using Integrated and Holistic Approach.
A market graph looks chaotic but when some meaningful construction lines are made, you can see patterns and trends and make some projection into the future market scenarios.
This market continues to be bearish with consolidation. The market will likely move to the moving average of the Bollinger Band.
The MACD histogram needs to complete its negative sine wave.
And the Stochastic will be in oversold region for some time to come.
12th July will be an interesting timing to notice how complete is the consolidation.
The market behavioral patterns are similar to any other market from the Technical Analysis point of view, using Integrated and Holistic Approach.
A market graph looks chaotic but when some meaningful construction lines are made, you can see patterns and trends and make some projection into the future market scenarios.
This market continues to be bearish with consolidation. The market will likely move to the moving average of the Bollinger Band.
The MACD histogram needs to complete its negative sine wave.
And the Stochastic will be in oversold region for some time to come.
12th July will be an interesting timing to notice how complete is the consolidation.