Since the announcement of intervention from the G7 group to help Japan, the Asian equities market are showing sign of improvement. The G7 group, whose members include the United States and the UK, joined the Bank of Japan in stepping into the currency markets to curb the soaring yen. This really help to stabilize the regional Asian equities market. In the local front the announcement of Sarawak State Election also help our share market to boost a little. Looking at most of the counters, we can see most of the speculation counters are moving. The FBM-KLCI is moving towards their strong resistance level of 1,529 points. Able to penetrate and cross over that resistance with strong volume would confirm our share market is moving upwards.
At these moments the FBM-KLCI is touching their strongest resistance level. It is a good time to go in? Since the FBM-KLCI is touching their strongest resistance level, it is good for us to monitor current market sentiment and movement before any decision can be made. Usually it is not advisable to accumulate if the FBM-KLCI is facing their strongest resistance level.
7 comments:
Do u see a tripple top or tripple bottom ?
At these moments I won't call it a triple top but a triple bottom did happen.
With the FBM-KLCI today clims another 13 Points. There's lots of chances that the FBM-KLCI can move higher.
Would a head and shoulder develop?
This year is an equity year. The KLCI could move higher to 1650 by the end of this year most probably.
By the way, Jackie. Can we have a blogroll link exchange? Sorry to post this request here but i couldn't find your email. you can delete this comment later on on your site.
I don't think there was a formation of Head and Shoulder at these moments.
Angel Stone
I have already link to your blog. Anyway it was a good blog.
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