FBM-KLCI To Breaks The Major Resistance At 1,300 Points ?

Happy New Year To All My Readers......

Surprise, surprise ........ the Malaysian equity market has started to moved. Current share market performance can be consider moving quite well and there is some positive volume build-up (it is a good sign). But for how long our share market can sustain ? No doubt the market is breaking its recently high, still we need to respect the next major resistance level at 1,300 points.

Looking at the current total volume done, it seems that our FBM-KLCI has the capabilities to break its major resistance level at 1,300 points. But usually whenever the index touches its major resistance level, it will take a pause for a while before making any new attempts to break its previous major resistance.

These past few days we can see the overall counters especially the third liners counters were moving slowly towards upwards. Right now any short period of profit taking can be considering as an opportunity to accumulate. Whether the current share market can sustain its momentum, it will depends on how our world share market performance with the Dow Jones Industrial Average still play an important role as our Big Brother.

This coming few days will be very important days for us to monitor closely whether we still have some more rooms to make some profit. Current sentiment is telling us that we still have more rooms to move on.