Like it or not correction will emerge today. Yesterday the European and US share market were having a correction after their recent gains for almost 6 trading days. What would happen next in this few weeks to come ?Right at the moment it is quite hard to calculate where the KL Composite Index is heading to ? Form the charts wise it might not break the recently low 801.27 points created on 28.10.2008. I think it might consolidate around the 800 points level to 900 points level. This was based on its strongest rebound recorded recently.
But if we want to take this charts and compare to 1997 Asian Financial Crisis charts, the answer will be different. If we compare with it, the KL Composite Index will most likely to break the recently low of 801.27 points. All this scenario will depends on how our world financial market performance and how the US will face their financial meltdown with their newly elected President Barack Obama. At the moment the US President is President Bush before he handle over the key to newly elected President.
1 comment:
KLCI may retraces to 865 level. If these level get supported, then KLCI will moves higher. Otherwise it will go one more down leg. Just watchout for these 1-2 weeks index movement.
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