KLSE chart KLSE seem in correction phase right now .
Will go in range 1550 - 1650 , before make new move ( bullish )
Should not be worried because this is bolehland .
While world having too much crisis , Malaysia keep calm .
FBMKLCI trade ideas
FBM: KLCI. Long BiasTechnical - the weekly chart of FBM KLCI had completed the C leg of Bearish Gartley and heading towards D leg. The probability of this pattern turn out to be Bearish Crab is quite low as the D leg of Bearish Crab will be higher than the historical high of FBM KLCI. Therefore, any short order will only be executed wheneven there is a confirmation of trend reversal (whether its Bearish Gartley / Bearish Crab).
The probability of trend reversal happen on 1805 is quite high as the Bearish Gartley will be completed at that level and there is a resistance zone at 1805 - 1820.
Fundamental - Saudi Arabia, Russia agree oil output freeze (source: TheEdge Financial Daily 17/02/2016 Page 2).
This news expected to have high impact to Malaysia as Malaysia is an oil producing country. Therefore rising of oil price would expect to bring in foreign investor to Malaysia and this will push up KLCI index.
DISCLAIMER:
I'm only providing my own thought toward the market but not making any trade call.
klse still in bearish camp.. no sign of bullishKLSE still not good to play... not many people interested to buy at that particular level.. while seller still look good in supply zone
KLSE Index is in a very big trouble aheadI seldom do local KLSE index analysis, but I can't help myself to notice the obvious patterns and highly potential direction for this index in the very near future which could affect a lot of KLSE stock investors who might still are unaware of the real situation.
From the KLSE Month chart, we can clearly see the dreaded Head and Shoulder pattern that can indicate any change of major trend direction. The index is making a move up at the movement in a wedge pattern and it's a very clear retracement move or what we called as "Dead Cat Bounce".
The index had retraced to 1650 level where the Fib-R 38.2 is situated, if it goes south now it will most likely heading to 1350 level where the Fib-E 138.2 and the larger Fib-R 50.0 are situated. Usually the same price retrace will equate to the same price extension on the other direction.
While the Index can still retrace up to 1750 level were the Fib-R 61.8 is situated, it can go south to the 1250 level where the Fib-E 161.8 and the larger Fib-R 61.8 are situated. This would be the ideal price level that the index might found its bottom where there's a very long term trend line support also confluence there.
So this might be a very good time for KLSE stock investor to unload their remaining shares and stay out at the side line, it's also safer this way since another GFC is just looming around the next corner in 2016.
Malaysia: Love its Palm Oil~!Posting the relation for Bursa Malaysia with Palm oil futures. Just posting as a first as this website doesn't have one.
If Palm oil goes higher, market trends to follow it.
Good times ahead as where both lead each other!
-ZackleR
