Seeing from the chart the KLCI have cross over the 1,675 points. It seems that there was no limit until the index reach 1,700 points. The MACD also cross over suggesting that the KLCI will move forward and with the MACD Histogram turning green, the index will have more potential to move higher.
Monday, August 15, 2016
Monday, August 8, 2016
Last Friday the MACD Histogram changed from Red to Green colour suggested that the market might have some potential to move higher provided the index must stay and cross above 1,668 points and 1,675 points.
If the index manage to stay above 200 days moving average we will see some positive momentum but right now the MACD still at selling signal suggested we need more time to digest or consolidate.
Don't forget about the Dow Jones index, we might be seeing another records high being create these few days. Any huge movement on the DOW will sure bring positive outcome to the KLCI.
Friday, July 29, 2016
This week the KLCI closed on a very quiet momentum. From the indicators it appears the KLCI is heading south at these moments with the next supporting lines at 1,644.00 points (50 days moving average). Breaking this point we might be aiming the next target of 1,615.00 points.
The MACD is crossing over indicate the KLCI is weak and the MACD Histogram also flashing RED colour. At these moments we will call it as a correction or consolidating after recent run up but still the index is below 100 days and 200 days moving average.
If the KLCI want to have positive sign and come up from their bear territory, the index need to move higher and close above 1,668.00 points. With so many negative news surrounding the 1MDB issue it is wise able to trade cautiously with careful approach on certain counters which is moving into positive territory.