Thursday, September 15, 2016

The KLCI Near The Critical Zone (Major Support) 1,659 Points.

Based on the chart reading, the KLCI is heading to another low as at 14.09.2016. Right now we can see the index just sit on top of the 200 days moving average as we can consider it as a support. Breaking 1,659 points would means that the KLCI might be heading lower.

Right now the Dow Jones is not really doing well after some news pouring out stated that the FEB might raise the interest as in near term. 

Indicators like MACD Histogram now flashing RED color suggest the index is weak and the signal still in selling position. Based on the markets momentum many equities still looks very weak and some even created a new low.