I think that KLSE (Malaysia index) selling is almost done. It should go down a bit more towards the 50% and 61.8% FIB level and we should see a decent rebound from here. Buy on dips.
Things are not looking too good for the Malaysia Bourse, short term at least.
Breakdown of a rectangle signals a down trend. Unless it morphes. Which it may. =)
#KLSE #KLCI
It goes below the bearish trend line and 20-day moving average. But it looks like within few days recently, it traded sideways. Let's see whether it keeps following the bearish trend or otherwise.
Tell me what you guys think.
More like the peak in the index is behind. At moment, sideway ranging situation below previous support an act of distribution. Despite gains in other global indices (for example, new high DJ30), KLCI still in the red year-to-date.
KLSE seem in correction phase right now .
Will go in range 1550 - 1650 , before make new move ( bullish )
Should not be worried because this is bolehland .
While world having too much crisis , Malaysia keep calm .
Technical - the weekly chart of FBM KLCI had completed the C leg of Bearish Gartley and heading towards D leg. The probability of this pattern turn out to be Bearish Crab is quite low as the D leg of Bearish Crab will be higher than the historical high of FBM KLCI. Therefore, any short order will only be executed wheneven there is a confirmation of trend reversal...
I seldom do local KLSE index analysis, but I can't help myself to notice the obvious patterns and highly potential direction for this index in the very near future which could affect a lot of KLSE stock investors who might still are unaware of the real situation.
From the KLSE Month chart, we can clearly see the dreaded Head and Shoulder pattern that can...
Price hindered by 1.720 level - lower band of the initial predicted 1,720-1,750 Resistance Region.
- Probably due to the Fed's Oct 28th decision of keeping the rate unchanged --> Bearish to export-oriented Asian countries.
- Price has since plunged a hefty 3% or 50pts, from 1,720 to recent low of 1,660.
- There are both psychological (50pts plunge), & technical...
- shall see temporary weakness as KLCI failed 1,720 resistance test last week.
- R@1,720 further strengthened by Shooting Star candle pattern on Daily.
- Index previously broke below a 3year-old slanted H&S; pattern.
- H&S; Neckline (now a strong Resistance) currently lies around 1,700 mark (as marked by Grey UTL) - is tested on Oct 02 & HOLDS.
- Immediate R1 @...
