There Is A Chances That The KLCI Might Be Moving Forward?

After declining about 38 percent from the high created on 19.10.2015 (1,727.71 point) to a low on 16.11.2015 (1,644.29 point) based on Fibonacci Retracement reading, we might see a rebound after the KLCI manage to show more strength. Indeed the first hurdle that the KLCI must cross is the resistance at 1,697.00 point.

 

 

If this resistance can be taken out we might see a continuing of up trend but if the index fall below 1,644.00 point there might be heading to 1,617.00 points. 

 

No doubt the MACD still in selling signal but today MACD Histogram start to flash Green colour suggesting that the KLCI is gaining strength but the weekly Histogram still in Red colour.

 

From observation in the futures trade we can see that these two days whenever the futures FBMKLCI open at low in the morning session it will close higher in the evening trade however the trend still need to depends on how the Dow Jones Industrial Average is doing.

KLCI Might Be Facing More Selling Pressure Next Week

As we can see yesterday the Dow Jones Industrial Average was down another -203 points with the MACD Histogram Still flashing RED colour. Indeed we can see the Dow Jones is getting weaker.

 

With Dow Jones weaken, the KLCI also get affected. If we look at the KLCI chart the indicators not really promising with sign of more selling pressure going to happen next week.

 

 

For weekly indicators the MACD Histogram also start to flash RED colour indicated that we might having a very bad week ahead. Just be careful. Our Ringgit also weaken and it is not good for the Malaysian share market as well as the oil prices also plunged heavily. 

Dow Jones Industrial Average Is Getting Weaker. Becareful !!!

There is a possibility that the Dow Jones Industrial Average is going to go down in the near terms. If the rumours that the Federal Reserve is going to raise the interest rate in December than we might see that the Dow Jones might be moving down.

 

There is a divergence reading where by the MACD Histogram is getting weaker and the DOW index is getting higher. If we analyse the MACD Histogram indicators, they are still flashing RED indicates that the DOW is getting weaker. If the MACD cross over happened, there might be some selling activities.

 

If the Dow Jones is going down, we might have another U-Turn movement for the KLCI. It is quite tricky at these moments but based on our current currency, it is getting BAD to WORST. Today the ringgit trade at RM 4.35 for 1 USD.