Week24_2018 KLCI health check
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KLCI rebounded from 1708 and resisted by 1800... seems like market found their new support and resistance.... and is going to be "ranging soon"...(yet to confirm)
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click for image:
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Long term:
Sideway - Bearish
Mid term:
Slightly bearish
Short term:
Bullish
Resistance:
1800 , 1814
Support:
1725 , 1708 , 1700
indicators:
MA: bearish
MACD : bearish , but crossing up
For longs, may consider to wait at Support , or price to break above 1814...
For shorts , your SL is 1814..
our view is sideway-bearish on KLCI
P/S: as next week market will only have 3.5 trading days, follow with long weekend... fund managers , big traders are on holiday mode, .... expect market will have low liquidity.....
trade safe!
may the trend be with you
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