KLCI market was remarkably moving upwards in the past few months. Since the country is anticipating its 14th general election, due to results of votality in market, in a few days, it started moving sideways.
The market outlook for FBM KLCI recap noted below:
Looking at the Major Green Diamond Buy Signal on Dec 12, 2017, 1729.67 was the closing price. The buy condition has been triggered, observing the bar next day and according to iVSAChart ATA Diamond.
On Feb 8th, we noticed the Red Diamond (sell signal) appeared based on the 6-month period chart. Within the last couple of months, there has been slight decrease about 2.19% on FBM KLCI.
On Dec 13, 2017 trend reversal (indicates Sign of Strength together with both Green Diamond Buy Signals) was noted with closing price of 1737.66.
Since the Red Sell Diamond (sign of weakness) appeared on Feb 8, 2018, but other sign of strengths have been spotted. Despite the strong signals that rallied in the past few months, this indicates that the market has started to weaken.
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Disclaimer: This post is meant for information sharing. It does not served as trading ideas for buy or sell. Please do your research and practice prudent risk management as you are responsible for your own decisions.
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