Comment : 1) FBMKLCI has fell below Neckline A on 19-Sept, the prior short term rebound is likely over. The next supporting/rebounce point is expected to be around 1402. The bearish trend underway since 19-Aug. Please take cautious in your trading plan at the moment as the market could be getting more fluctuate.
2) TrendX+ indicator - red candlestick still moving below trend line, mid-term downtrend.
3) DDX+ indicator - bear signal on 19-Aug still valid.
4) MCDX+ indicator - banker bar (red) is absent, while retailer bar possess more than 80%.
Support & Resistance : R : 1402 +/-
Remark : Length of ab=cd
DISCLAIMER : Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
Trade closed: target reached
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FBMKLCI first wave reached
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FBMKLCI second wave incoming
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FBMKLCI today shows up a Bull signal in DDX+ indicator, indicating an upcoming short-term rebound, corresponding to current sentiment in the global market. Short-term supporting is today's lowest price, 1389.16.
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Further update on FBMKLCI.
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Update on FBMKLCI & futures-FKLI1! Both indices have hit resistance (Neckline A).
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Update on FBMKLCI
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Update on FBMKLCI The benchmark index posted its strongest gain in over two years as Datuk Seri Anwar Ibrahim has been sworn in as the 10th prime minister. It has been BO above neckline A and expecting a bull in short-term. Congratulation DSAI !