Thursday, May 14, 2015

Trend Reversal In KLCI ?

Yesterday for the first time the MACD Histogram indicator flashes GREEN and today another GREEN with another candlestick "Hammer" appeared. The day before it show another sign of candlestick "Doji" star (12.05.2015) appeared.
Usually when these candlesticks appeared, there will be a sign that a "Trend Reversal" is taking place. The MACD Histogram also flashes Green. It suggested that the downtrend is at pause.
With the MACD histogram turn into 2 Green, the FBMKLCI will slowly turn into positive momentum with the index trying to climb even higher.
With today index closed up 4.53 point at 1,807.55 point, it should have confirm that the trend have change to more positive bias. At these moments we are still in early stage but a careful approach is needed in order to make sure that we didn't lost the battle.

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