KLCI : Mutlti Year Bull Run

KLCI : Mutlti Year Bull Run

einvest88
Publish date: Fri, 17 Jan 2020, 06:23 PM

The fund flow always provides u early signal the movement of underlying. Fundamental always come late by many months...

The chart of USDMYR and MYRUSD telling you KLCI is heading a multi year bull run. 

The weekly macd of USDMYR begin to trend below zero line. This is same as 2Q of 2009. The magnitiude of downside likely to be much bigger than 2009 given that the breakdown of major neckline support. You could see the HS pattern with a multi year jumpo head. This breakdown will give you a target of at least below 2011 low. 


From the MYRUSD chart, weekly MACD begin to trend above zero line (Bull Run). From chart, you could see there are 2 major downtrend lines. The 2014-2019 downtrend line is about 3x of 2007/08. Current breakout telling you the upside resistance is equivalent to KLCI around 1900 point.

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TheContrarian

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2020-01-17 19:09

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