Monday, August 8, 2016

Any Potential For The KLCI To Break Out At 1,675 Points ?

Based from the chart reading, the KLCI now trending at a bit positive upside. It seems that the 1MDB issue didn't bring any effect to the markets. Malaysia people are use to it already. Corruption won't bring any effect to their life. 

 

Last Friday the MACD Histogram changed from Red to Green colour suggested that the market might have some potential to move higher provided the index must stay and cross above 1,668 points and 1,675 points.

If the index manage to stay above 200 days moving average we will see some positive momentum but right now the MACD still at selling signal suggested we need more time to digest or consolidate. 

Don't forget about the Dow Jones index, we might be seeing another records high being create these few days. Any huge movement on the DOW will sure bring positive outcome to the KLCI.

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