Bull and Bear

Week26_KLCI health check

Week26_KLCI health check
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click for image:

https://www.facebook.com/KLSELION/photos/a.854214074738461.1073741829.848454415314427/999907660169101/?type=3&theater

 

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KLCI finally break below 1700, at the moment no obvious sign of reversal....
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Long term:
Bearish

Mid term:
bearish

Short term:
bearish

Resistance:
1708 , 1729, 1750

Support:
1657 , 1617

indicators:
MA: bearish (price below all MA)
MACD : bearish

For longs, may consider to wait bullish candle break above 1708 , or wait at support 1657 or best entry is 1617

For shorts , your resistance is 1708 , 1729 , (entry / SL)

our view remain bearish on KLCI

KLCI bearish doesnt mean all counters must be bearish.....

note: on the other hand, what we notice...
*KLCI gap down , but closed green 
*Friday majority counters are bullish.. (480 up, 350 down , 417 unchanged)
*oil is bullish... 
*dowjones close slightly positive , although still unable to break above resistance
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trade safe!

may the trend be with you

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