Friday, October 30, 2009

FBM-KLCI - A Bit Bearish. Waiting for DJIA Indicators ?

FBM-KLCI - Breaks it Major Supporting Lines. With the major supporting lines being breaks, it is quite bearish right now for the whole sentiment. Yesterday prices still look bit stable although we have some small selling activities in the morning session. A technical rebound might be just round the corner.

But if we examine the share market movement especially the FBM-KLCI, most of the time they were traded accordingly to the Dow Jones Industrial Average movement.

Right now the DJIA play an important role to determine whether our share market still have more spaces to hang on at the current level. A break of below 1,200 points will confirm that the current trend has turn to bearish sign. However at current level and with most of the indicators turning south, it is quite important to stay out or to reduce our exposure in order to safe guard our investment.

1 comment:

Anonymous said...

Ya, looks heavy, but i believe it still could go further till middle of next month or all the way till year end with tight cautious thin trading.