Based on my previous observation, KLCI was in the 5th wave rally. But the rally had weaken after it reach near the 4th wave low. The 5th wave had broken and now it will enter into the ABC wave downward.
In today trading, it has reach the very important support line at 1615 pt. If it closing with downwards breakout, the next support line will be at 1553 pt.
The near term concern will be the US-China trade negotiation. If both economy reach a deal, then we will see a correction sideway.
Disclaimer: Individual opinion and analysis. Not for trading purposes nor buy/sell call.
In today trading, it has reach the very important support line at 1615 pt. If it closing with downwards breakout, the next support line will be at 1553 pt.
The near term concern will be the US-China trade negotiation. If both economy reach a deal, then we will see a correction sideway.
Disclaimer: Individual opinion and analysis. Not for trading purposes nor buy/sell call.