Monday, May 4, 2015

FBM KLCI Is Going Into Correction Mode? Be Careful.

Chart as at 28.04.2015. Article posted on 29.04.2015
After last week posting on FBM KLCI ( movement on Wednesday 29.04.2015, the market took a huge tumble on the next day dropping hugely about 24.66 points.
The main support of 1,836 would remain as a resistance. This huge drop I didn't expect it to happen but it did happen all the sudden.

Chart as at 30.04.2015

At these moments based on the weekly chart, the chart turn to negative as it appear that a long "Black Candlestick" exist. It is not a good sign for this coming week. It show more negative sign with histogram start flashing "RED" and weaken.
Stay out from the share market would be advisable unless we have some positive sign ahead but I'm doubt about it. It seems that the correction is taking place right now.

Chart as at 30.04.2015 (weekly chart)

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