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Tuesday, January 18, 2011

Will FBMKLSE go down tomorrow?

KLSE is a special index where when regional are red , KLSE will be green just like Jan 17 and today when all regional is green, KLSE seems to be down. What really happen to KLSE. THis is where we are going to find out

Today it tested the Resistance at 1576 but without volume it start to get weak and retrace
1) Still above the uptrend line
2) HH - Did not form any HH and wait for tomorrow for further confirmation, support at 1559 for the lower High and if break this, take profit and let the market sentiments be positive then only buy again
3) MACD - The dark force is approaching (red line) becareful... Bearish!!
4) RSI - Overbought - going to break below 70% which indicate bearish!!
5) ADX - at high momentum at 39 and showing bearish with momentum - Becareful

Let hold first until we see a clear picture what KLSE is going to do. WIll it follow regional up or will it retrace until 1559..

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