FBM-KLCI Consolidating ???

These two days the Malaysian share market seems to be quiet. All the sudden most of the active shares has stop their momentum. The FBM-KLCI still look nice and it didn't show any sign of downturn but the candlestick show a bit sign of negative signal. Maybe heading for consolidation or maybe some correction.

Still it didn't means that the share market has ended its run. If we take a look on most of the speculation shares, it seems that most of the counters have started or heading for correction after recently run up. Some might even moving side way for consolidation. Hopefully most of the speculation counters are resting for a while before continuing another leg to move up.

At these moments, current share market turnover still consider normal with daily turnover still exceeded 2 billion shares traded. As usual the FBM-KLCI must not break the 1,530 points as this level would be consider their strongest support.

FBM-KLCI Attempting To Break All Time High ?????

We are entering in the year of Dragon but it seems that this Dragons were lack of powerful shots. No doubt we can see some trading opportunity each and every day with rotational movement, the firepower was not strong enough.

Looking at the current sentiment couple with the worldwide equities market movement, it looks like our share market still have more opportunity to trade with. Right now we are trying to move into Bulls Run with recently turnover created 2 billions to 4 billions share traded. But can we call it is a Bull Run?

Current sentiment looks very stable with trading opportunity still well pressured. Usually after Chinese New Year, the share market will move slightly higher before it losses its steam. Right now we will set 1,530 points as Main Supporting line with the Major Resistance line stand at all time high of 1,598 points. A break of that level will create a new high for the FBM-KLCI. We think that current government (Barisan Nasional) or 1Najib or 1Malaysia will try very hard to push the FMB-KLCI to break a new record high. This might be the last push before the next coming election set in around end of First quarters or Second quarters - mid of this year. Rumurs now running very high that the 13th General Election is very near now.