clance23
Short

KLSE Index is in a very big trouble ahead

INDEX:KLSE   Bursa Malaysia KLCI Index
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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 indicate any change of major trend direction. The index is making a move up at the movement in a wedge pattern and it's a very clear retracement move or what we called as "Dead Cat Bounce".

The index had retraced to 1650 level where the Fib-R 38.2 is situated, if it goes south now it will most likely heading to 1350 level where the Fib-E 138.2 and the larger Fib-R 50.0 are situated. Usually the same price retrace will equate to the same price extension on the other direction.

While the Index can still retrace up to 1750 level were the Fib-R 61.8 is situated, it can go south to the 1250 level where the Fib-E 161.8 and the larger Fib-R 61.8 are situated. This would be the ideal price level that the index might found its bottom where there's a very long term trend line support also confluence there.

So this might be a very good time for KLSE             stock investor to unload their remaining shares and stay out at the side line, it's also safer this way since another GFC is just looming around the next corner in 2016.
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