In the past few months, KLCI market was remarkably moving upwards. Due to results of votality in market, in a few days, it started moving sideways since the country is anticipating its 14th general election.
Noted below is a recap of FBM KLCI recap market outlook:
Looking at the Major Green Diamond Buy Signal on Dec 12, 2017, 1729.67 was the closing price. According to iVSAChart ATA Diamond observing the bar next day, the buy condition has been triggered.
Based on the 6-month period chart, on Feb 8th, we noticed the Red Diamond (sell signal) appeared. There has been slight decrease about 2.19% on FBM KLCI within the last couple of months.
With closing price of 1737.66 noted on Dec 13, 2017 trend reversal which indicates Sign of Strength together with both Green Diamond Buy Signals.
Other sign of strengths have been spotted since the Red Sell Diamond (sign of weakness) appeared on Feb 8, 2018. This indicates that the market has started to weaken despite the strong signals that rallied in the past few months.
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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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