Sunday, May 10, 2015

Any Rebound For The FBMKLCI Ahead ? Candlestick "Inverted Hammer" Appeared.

Good morning. From my previous article on the KLCI if the index managed to close higher when the "Two Hammer" appeared we might see a technical rebound but it didn't materialize when the index close down -15.87 point to close at 1,805.10 point.

But one thing for sure another candlestick "Inverted Hammer" appeared on Thursday closing (07.05.2015). On Friday when the market was closed it appear again another "Inverted Hammer".

Basically from the candlestick guidance, a confirmation of the next day candlestick (Monday), can only confirm whether the share market can rebound or we can call it a Trend Reversal. An opening higher with white long candlestick would be prefer on the next trading day to confirm it.

With the "Dow Jones" went up about 267 points on Friday closing to close at 18,191 point, we might see the KLCI will be open higher from the previous close of 1,807.65 point. 

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