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Saturday, 21 June 2014

KLSE Properties Index: 21 June 2014, Saturday, 4.10pm Singapore Time

KLSE Properties Index: 21 June 2014, Saturday, 3.05pm Singapore Time
Chart courtesy of Chartnexus.com

Technical Analysis of KLSE Properties Index is as per illustrated in Daily Chart above.

Malaysia properties market  is forming a huge Shoulder-Head-Shoulder distribution pattern illustrated by the Yellow Lines. The Blue and Green Lines form the upwards price trend supporting and helping in the distribution.
Distribution pattern will be negated if 1461.74 points is broken upwards. Distribution pattern will be confirmed with 1461.74 points not broken up and Green trendline helping in the distribution broken down.

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 KLSE Properties Index can offer (to be trapped within a +10.000 FFA: toppish and topping out with signs of bearish distribution).
+ Resumption in sell-off will now 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.

Donovan Norfolk Technical Rating:
Bear Market Transition
(Sell on Rebounds)

Those who are highly leveraged in properties in Malaysia, be more cautious. Inherently, this also means Malaysia Ringgit is topping out against the USD. Ringgit will continue to depreciate from here (execute long term depreciation against the USD and the basket of major currencies).

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