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【ShareInvestor Station】Support Level For FBMKLCI
FBMKLCI started to rally from the beginning of this year until Jun.
After Jun, we have a downtrend from 1796 points to 1737 points which is 59 points different and the question for our users are "Where will be the next support level of KLCI Index"
Using Power Frame of ShareInvestor Station, we can have the different timeframes at one screen.
The chart on the left is the weekly chart and the right-hand side chart is the daily chart.
From the daily chart, FBMKLCI break below the support level (1753 points, pink colour line). The recent downtrend is expected to continue until new catalyst released in Malaysia.
By using Fibonacci retracement, immediate support area for FBMKLCI is around 1705-1728 points.
From the weekly chart on the left, this support area assumption is supported because we can detect 2 recent resistant and 2 support levels (highlighted by the circle) over the past 3 years.
Let us monitor closely whether this support area can be the strong support for our Malaysia FBMKLCI....
This is Power Frame in ShareInvestor Station, our users always can trade easily than non-user.
To find out more, please call 03-7803 1791
or visit ShareInvestor Station Website
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