Saturday, January 2, 2016

Dow Jones Not Showing Sign Of Continuing Up Trend.

Based on the chart reading the Dow Jones still didn't show any sign of continuing up trend. If we take a look at the chart, each of the high (3 previous high) created for the past two months have not been penetrated.
If the last high wasn't taken out, we have to be careful in this new beginning of new year trade. It has been a volatile trading for the past one month with up and down. MACD Histogram just started to flash RED suggesting some weaknesses ahead but it is still early to tell.  

For the KLCI, the indicators reading still look positive. At these moments a correction might set in after some huge surge over the past one week. The resistance of 1,697 need to be taken out before another resistance of 1,727 set in.