Last week KLSE had a good run up with KLCI gained nearly 70 points. Did your see the action of KLCI tick movement on daily and real time ticking of the KLCI chart. Everyday you could see a beautiful Elliott wave movement of the pattern .
Is KLCI has nearing its upward movement of this technical rebound phase?That is from the bottom of 1188 to 1258. Is there any futher upward movement to this leg up phase?
Most probably yes since it seems she want to fill the gap at 1280-1290.Is it worth it to catch the futher 3% upward movement of this upward correction leg?That depand on what type investor are you?
The major Traffic Light no 1 was seen at 1290 ie the Resistance or hurdle no 1 that KLCI must overcome if it want to go further up. That is the current "stop and go" sign ie traffic light before the KLCI can resume it upward journey.
If Not the KLCI will resume its major down trend movement to 1000 level. This is supported by its weekly internals which are pointing down south.Did you see the action of the volume in weekly basis. Why is it contacting?
In summary for the NOW or current situation the KLCI has a further room to go up which is good to day trader but for long and med term trader act accordingly.
Me... the broken clock only right twice of the time( out of 24 strike)... Thanks for reading
