In the past few months, KLCI market was remarkably moving upwards, In a few days, it started moving sideways.
A recap of FBM KLCI recap market outlook is noted below:
Looking at the Major Green Diamond Buy Signal on March 12, 2017, 1873.00 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 April 4th, we noticed the Red Diamond (sell signal) appeared. There has been slight decrease about 2.51% on FBM KLCI, within the last couple of months.
With closing price of 1873.00 noted on April 11, 2018, trend reversal which indicates Sign of Strength together with both Green Diamond Buy Signals.
The Red Sell Diamond (sign of weakness) appeared on April 4, 2018, but Sign of Strength was spotted on April 11 and 18, 2018 but red sell diamond reappeared on April 24, 2018. This state 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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