These few days I have been watching how our index is performing and where the FBMKLCI will bring us to? Frankly from my point of views, our share market sentiment is still not strong enough with the MACD indicator almost flash selling signal.
The MACD not yet cross but definitely there are some danger elements been created now with the MACD histogram also show more weakening signal day by day. Can we call it that the FBMKLCI is still consolidating???
These few days movement is very important to determine where our FBMKLCI is heading to. Any opportunity arise is to "Sell on Strength" rather than "Accumulate on Weakness".
No doubts the FBMKLCI still stay above 200 days moving average, still a careful approach need to be implemented in order to prepare for our self if the FBMKLCI has lost its momentum. At these moments some of the world equities market still in a bullish position with all the indicators still show positive sign.
These will eventually help the FBMKLCI keeping up its momentum. The current support for the FBMKLCI stand at 1,836 point with strongest resistance still stand at 1,858 point. Breaking down 1,836 point will bring the FBMKLCI to create lower low.
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