Chart courtesy of Chartnexus.com
Attached above is the Technical Analysis of KLCI.
1. A-B-C Escape Wave has achieved completion at price satisfaction point of 1824 points.
2. A-B-C dead cat bounce also coincides with Super Resistance 1 and Super Resistance 2 as above.
3. Malaysian stocks and equities are to resume long term sell off soon: Be cautious.
4. Mid Term Target is 1600 points
5. Long Term Target is a break down of 1526.6 points.
6. The KLCI has so far refused to rally with +10.000 Donovan Norfolk Funds Flow which is bearish in nature.
7. The above bearish analysis will be negated only if Super Resistance 1 and Super Resistance 2 are both captured successfully and made the support. Otherwise, Malaysia Financial Markets is to be treated as a successful transition to early phase bear market.
Click "Share" on the Facebook icon at the bottom of this thread if you like it, or
if you would like to start a discussion about it with friends on your Facebook Wall.
No comments:
Post a Comment