FBMKLCI break the major support of 1600pts but closed 1605pts at the end of week. Rebound might happen (low chance) since RSI rebounded from oversold zone and price is diverged with MACD (lower price but no lower MACD).
Downtrend remain intact until higher low is formed.
Immediate resistant - 1617pts
Immediate support - 1600pts (mentally support) & 1572 (recent lowest)
FBMKLCI failed to formed higher low. Immediate support at 1617pts is borken and continue a lower low trend.
Downtrend remain intact on FBMKLCI until higher low is formed and maintain mid-term target at 1660pts based on the Fibonacci and previous gap.
Immediate resistant - 1617pts
Immediate support - 1600pts (mentally support)
Although on the prior move, we knew that the KLCI will move lower to the support and trendline area which indicates the final wave (Z) correction and (e) in triangle. We were hoping that the price will bounce on these 2 support lines. It did for at least 2 weeks and moved 32.61 points above.
As of now, I will stay neutral on Malaysia's economic, if price breaks...
Based on my previous observation, KLCI was in the 5th wave rally. But the rally had weaken after it reach near the 4th wave low. The 5th wave had broken and now it will enter into the ABC wave downward.
In today trading, it has reach the very important support line at 1615 pt. If it closing with downwards breakout, the next support line will be at 1553 pt.
The...
FBMKLCI rebounded from 1617pts and going sideway for the past 4 days and no clear sign from all indicators.
Downtrend remain intact on FBMKLCI until higher low is formed and maintain mid-term target at 1660pts based on the Fibonacci and previous gap.
Immediate resistant - 1643pts
Immediate support - 1617pts
As Q2 2019 is underway, global financial markets have experienced a melt-up in assets prices, with some markets up over 20 percent year-to-date. However, despite the run in global asset prices, there is one country that has missed out on the rally, and that is Malaysia.
Malaysian equities ( EWM ) (INDEX:KLSE) have declined -3.77% in 2019, taking the mantle as...
As Q2 2019 is underway, global financial markets have experienced a melt-up in assets prices, with some markets up over 20 percent year-to-date. However, despite the run in global asset prices, there is one country that has missed out on the rally, and that is Malaysia.
Malaysian equities ( EWM ) (INDEX:KLSE) have declined -3.77% in 2019, taking the mantle as...
FBM KLCI has been reaching it record low in 2019 while the FBM small cap has been been on a small up trend.
The main reason where KLCI has been dropping tremendously was due to the crash of the banking sector due to the estimated interest rate drop in the future
Therefore the money has been float out from both banking sector and Malaysia and RM has been weakening...
Lihat pada chart weekly KLCI
3 sebab dia boleh turun lagi
1. break 61.8% line fibo menuju ke area 78.6%
2. MACD histogram dah ada bar bawah line 0, breaktrendline macd histogram, dan sudah ada bearish line crossover
3. RSi below line 50, break trendline dan mungkin menuju line 20.
FBM KLCI is standing at the support 1616 pt. This support line is the lowest since 2016 and if breakout downwards would see a support at 1548 pts.
On top of that, FBM KLCI is forming the Elliott 5th Wave downwards, we will see a reversal pattern or breakout of support at 1610 pts.
SUMMARY:
Downward -> Support at 1548 pts
Upward -> Resistance at 1729 pts
