Malaysia FTSE Bursa ASE 40 Index: 22 June 2014, Sunday, 9.33pm Singapore Time
Chart courtesy of Chartnexus.com
Chart courtesy of Chartnexus.com
Technical Analysis of FTSE Bursa ASE 40 Index is as per illustrated in Daily Chart above.
FTSE Bursa ASE 40 Index has been an accurate litmus of the true happenings within the Malaysian financial market and is often a good forward indicator.
FTSE Bursa ASE 40 Index has been an accurate litmus of the true happenings within the Malaysian financial market and is often a good forward indicator.
The financial markets in Malaysia has already given the warnings 1 to 6 as highlighted in the chart above.
(RED Circle 1 to RED Circle 6)
Note in addition the below market warning:
<< Anomaly: Failure To Rally on MAXIMUM +10.000 FFA >>
+ Maximum +10.000 FFA in the big wind/broad market is completing and U-turning, and this had been the best performance that FTSE Bursa ASE 40 Index can offer (to be trapped within a +10.000 FFA: price structure is one with properties of topping out and signs of bearish distribution).
+ Resumption in sell-off worldwide will proceed to do further damage.
+ Financial markets are transiting to bear markets per warned beforehand in Daily Funds Flow Analyses during end-2013 and 1H-2014.
Chart courtesy of Chartnexus.com
Note that Malaysia FTSE Bursa ASE 40 Index is also forming a huge bearish distribution (escape wave) as above. The right shoulder has been more or less triangulating with Donovan-Norfolk Funds Flow Analyses and is consistent with my warning of a worldwide bear market transition since end-2013 and 1st-Half-2014.
Donovan Norfolk Technical Rating:
Bearish
Bear Market Transition
(Sell on Rebounds)
Coincidentally, this synchronizes with the topping out of the Malaysia Ringgit against the US Dollar. Ringgit will continue to depreciate from here
(MYR to execute long term depreciation against the USD and its basket of major currencies).
Bearish
Bear Market Transition
(Sell on Rebounds)
Coincidentally, this synchronizes with the topping out of the Malaysia Ringgit against the US Dollar. Ringgit will continue to depreciate from here
(MYR to execute long term depreciation against the USD and its basket of major currencies).
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