KLCI market was remarkably moving upwards, in the past few months. In a few days, it started moving sideways since the country is anticipating its 14th general election due to results of votality in market.
A recap of FBM KLCI recap market outlook is noted below:
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.
On Feb 8th, based on the 6-month period chart, we noticed the Red Diamond (sell signal) appeared. Within the last couple of months, there has been slight decrease about 2.19% on FBM KLCI.
Trend reversal which indicates Sign of Strength together with both Green Diamond Buy Signals, with closing price of 1737.66 noted on Dec 13, 2017.
Other sign of strengths have been spotted since the Red Sell Diamond (sign of weakness) appeared on Feb 8, 2018. Despite the strong signals that rallied in the past few months, this state 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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