Friday, October 16, 2015

FBMKLCI Must Overtake 1,740 Point To Be In Positive Side.

After some two weeks of trading, our Malaysia share market finally went up. As I have mention the downside was limited and we can see that the world equities markets also moving up as well.

Based on the chart reading, there is a huge hurdle for the FBMKLCI to overtake that major hurdle of 1,736 points (+, -) with the 200 days moving average (1,740) will stand as a major obstacle.
Currently the MACD Histogram flashing some red indicators suggestion that the index is starting to weaken. There is a possibilities we might have a small correction ahead.
Will there be another major sell down ahead? Probably maybe towards the year end. At these moments the momentum still looks positive with no bad news surrounding the equities market.