Wednesday, March 14, 2012

Double Top For FBM-KLCI? Any Dangerous Sign???

Looking at our current market right now, it seems that we are having tumors in most of the counters. No doubt we can see the FBM-KLCI making new high for the past 2 to 3 weeks but most of the counters didn't show any sign or any strength to move. The share market still looks alive but too weak to move.

Looking at the share market transaction for the past 2 weeks, the transaction also declined rapidly with no more interest from speculator player to play with. With this kind of movement and transaction, it seem quite dangerous to play or to invest at these moments as we can see the FBM-KLCI is coming down from their recently high after creating DOUBLE TOP. At these moments it is important for the FBM-KLCI to hover around these level before attempting to make a new high and break the Double TOP.

If not this is not a good sign after recently reaching at high and performing DOUBLE TOP. Usually this kind of chart pattern looks quite bearish. Just becareful whenever we trade. If the overall share market turnover still below 2 billion, I don't think it is a good share market to trade with. The share market seems to be too quiet. Staying at the side line would the best choice. Right now we need a market leader in order to move the share market but we can't find one right now.


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