conclusion
The medium-term trend of the KLCI
continues to be negative with
target of 1050 level. short-term wise, a
trading band of between 1180 and 1220 level
watch those levels of playing feild.
klci market continued to trend lower last
week with the KLCI losing 22.68 points or 1.84%
during the week .The weekly chart klci is trending south.
the support-turned-resistance neckline, currently at
1320 level. Support seen at 1180 level.
Indicator wise, both its weekly RSI and MACD are
weakening.
klci has broken both support at 1220 and of 1209
klci is below 30sma and 50sma
at 1256 and 1262. daily RSI is
below the overhead trendline resistance
daily MACD-momentum is weakening.
Dow jones again sneezes and then
tumbled 464.66 points nearly 3.8% last week. It is now
below its 5-year trendline on weekly chart,
currently at 12,450, for 3 weeks, yes it had gone down,
current level followed by 11,600, which was the peak
registered end 1999. Immediate resistance is at the12,200 followed by 12,450.
Weekly indicators are weak with MACD seen a sell signal.
with that dow jones problem on klci unless 1320 is overcome the klci journey is down, provided 1180 can hold
So watch 1180, break down that number then acceleration begin down south.
Current level: 1,207
Immediate resistance: 1220
Strong resistance: 1320
Immediate support: 1180
target 1,050 ( wishful thinking that the ci will go there)
