Major Support at 150x-3x still holds, while price struggling above weekly ema100 (~158x area)
Expect further sideways-up movement if major support holds, possible wedge pattern in formation.
Watch: Immediate R @ 169x-172x
Happy Hunting! ⭐️🚀
-JK-
🔅Fed continue with USD printing, US 10yr bond yield consistently rising touching 1.7-1.8%, US Stocks pumped by stimulus money...
🔅Across-the-board commodity spike especially food & grains...
🔅USD Index continue rising despite excessive printing, suppressing EM markets currencies (including our MYR)...
🌐These are all MACRO reasons why CPO will see higher...
FKLI Index price consolidated past 1-2weeks, between 157x-160x range. Bears in control following multiple fail test of 1600 crucial Resistance mark.
Staying below Major R: 159x-161x will see bear attempt to push price back to range low 155x-7x or to lower S1 area.
🔔Underlying Support: 155x-7x ; 153x ; 150x
❇️❇️Q1 Outlook: Attempt to breakdown to Major S1......
CPO price consolidated past 1-2weeks, supported above UTL & major EMA , bulls took back control by end-Jan.
Staying >320x-2x support will see price attempt to regain 3500 & 3600 resistance levels.
Expect volatile sideways-up situation for coming 1,2weeks till market resume after CNY 🧧🏮
🔔 Overhead Resistance: 344x-9x, 354x-8x
❇️❇️Longterm Outlook: R2 tested,...
Technicals
Jan: Test major R @ 162x-4x 📈📉
Feb: Test major S1 or S2 🐻🐻
March: Test major S2 or S3 📈🐻
👇🏻 Prev idea on potential Dec2020 Top Formation
🔔 Q1 Risk Factor to Watch:
Covid, Reinstating/further extension of MCO, Political instability (Malaysia), US President transition, Geopolitical tension in Iran/Taiwan
I'm short bias for FKLI for Q1,...
Technicals
Longterm: Bear 🐻📉
Midterm: Neutral (Sideways-Up) 🐻🐮 📈📉
This Month: Seasonally bullish in Dec 🐮📈
👇🏻Prev idea still largely intact, albeit with an added hint of Dec bullishness / year-end rally
🔔Watch: Budget2021 debate & its subsequent approval/rejection
flat on FKLI; might take a seasonal Dec long near current sideways range low,...
Detailed Elliott Wave Count for Malaysia's KLSE index since its inception.
Once Primary Wave 5 is in - we'll probably head into recession, though that's still a long way to go; probably at least a decade.
Price oscillating within wide 12-15% flat sideways range. 🐻🐮
From here, more likely to retest range lows: 2700 ; 2600... 📉
Watch for potential breakouts from range❗️
Happy Hunting! 🥂🚀
-jk-
Bounce reached ~304x R-zone previously mentioned. Didnt manage to test the 3100 highs.
Didnt get to capitalise early on the current plunge from 30xx highs, tbh was expecting a milder retracement.
And we got a sharp plunge instead, thus potentially a large sideways range in play, before continuing the monthly bullishness.
Major Support: 2600-2700 ; ~244x
...
this is trade 147 frm haidojo trading...
after hitting the 2nd tp, now normally I wait for the next new trend...until then, still stick to short on rebound...
most probably sideway and slowly down...let's see what the market offers to us...
amazingly,the support range of 1540-1547 still holds...that's the miracle of support and resistance...alwaz mesmerize me in...
