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. 

KLCI Might Be Heading To 1,700 Points.

Seeing from the chart the KLCI have cross over the 1,675 points. It seems that there was no limit until the index reach 1,700 points. The MACD also cross over suggesting that the KLCI will move forward and with the MACD Histogram turning green, the index will have more potential to move higher.

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.