Black Candle with MACD 3G1R Confirmation bearish reversal. With this black it may indicate a bearish reversal by forming a lower high ( Downtrend)
Indicators
1 ) Trendline - Downtrend
2) Support/Resistance - Formed lower high ( Bearish )
3) MACD -Formed 3G1R ( Bearish )
4) RSI - Hooking downward (Slightly Bearish ) ,
5) STO - Bearish crossover ( Bearish )
6) Ichimoku - a) Price coming entering from the resistance cloud and testing the upper resistance( Bullish ).
b) Conversion line above the base line ( Bullish ).
c) Price close above the baseline ( Bullish ) .
7) Candlestick - Bearish Engulfing ( Bearish )
8 ) Market Sentiment - Bearish after Plan B of Fiscal Fear Plan was objected. Another 8 more days before the 2013.. Can the US government apprehend this roadblock?
Conclusion:
Bullish
Need to ensure that KLSE does not break below 1647 and break into the support cloud again..
Resistance- 1668 / 1681 /1725
Support - 1655 / 1647 / 1621 /1600 / 1594 / 1581