Price level satisfaction can only be achieved if FBMKLCI retest 1775, to conclude the correction (which began in Feb 2018), based on a combination WXY ElliottWave structure.
The wave Y is a reverse symmetry (expanding) triangle, with wave E aiming for 1775.
Price level 1775 will coincide with 61.8% retracement of the previous uptrend (Dec 2017 to Feb 2018).
The...
Laburlah Technical Coverage (23-APR, Monday):
FBMKLCI
Technical Analysis Breakdown
1. Trend: Cup & Handle breakout/ bullish
2. RSI & Stochastic: Bullish
3. MACD: Bullish
4. Support level: 1888
5. Bollinger band: Widening
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant personnel and do your own analysis...
Personal opinion on Elliott Wave count of FBMKLCI.
We are still in the Intermediate wave 2, Primary wave ((3)) of Cycle V.
Long story short, FBMKLCI is poised to create all time high, but the timing cant be said for sure, rest assured, FBMKLCI extremely unlikely to break 1616 support, or else all the previous wave count will be nullified.
As mentioned in the previous post we are indeed going through retracement to our KLCI index. However this retracement is accompanied by major global issue, the big retracement of the Dow which recorded a worst single day intraday point drop of 1597 pts (6.26%) on 5Feb2018 before recovering to close down 1175pts. This almost made it equivalent to the previous...
Referring to the previous post,
As projected, the KLCI has reached the 1853 (R2) and currently we might be looking for temporary retracement.
Let the rally continue to stay bullish and see the index testing the next resistance, R3 @ 1866.
1. The FBMKLCI index continued to stay above most bullish indicators (SMAs, Ichimoku, Donchian etc..) and is moving on sideway range between 1820 - 1830. Overall technical picture is still in a bullish state.
2. Expecting a further gain towards the previous high at 1840 (resistance-1), 1853 (R2) and 1866 (R3) levels.
3. As it is believed that wave-5 is pending to...
Overall market during Tuesday wasn't performing well as the profit taking events got weighty. However many stocks recovered towards the end of the day. Seems like the bulls still remain committed.
KLCI shall remain volatile within the support and resistance as per highlighted until either one is breached.
1. Strong wave -3 with 6 days of 20-days breakout.
2. Small correction in wave 4
3. Immediate support @ FR 38.2% & psychological support at 1800.
4. Based on fibonacci extension levels, the next immediate target of the next wave could be 1853 and 1866.
Market have high chance to rally on the upcoming events such as C-N-Y and most important anticipation of...
