Thursday, May 28, 2015

Technical Rebound Around The Corner?

Till today the KLCI have already decline for almost 7 days. If today still decline, it would have been down for 8 days. Based on yesterday movement, we can notice that the index is trying to rebound after dropping for so many days.
No doubt the indicator still didn't flash any sign of rebound, but yesterday momentum and with the previous candlestick reading "SUGGEST" that the market maybe nearing the bottom.
Anyway if any rebounds occur, the 1,774 point level will be a resistance for the KLCI. We might have a technical rebound around the corner but it would be a short term rebound only. Just be careful. How low it will go down and how high it will climb up nobody knows?

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