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Friday, February 25, 2011

Wow.. KLSE drop 20% points... Forming a lower low... What happen??

Yesterday KLSE was a disaster and yet i was not able to view and update my blog as i was in a party the whole night until 1am.... Everybody was worrying what will happen to KLSE and i was happily enjoying myself..

1) Trend Line - Downtrend ( Bearish)
2) HH - Formed lower low by breaking the support at 1493 (Bearish)
3) MACD - Formed 4G1R ( Indication of Bearish and see if today whether is there any continuation patter) and
4) Bollinger Band - Support by the lower band.. ( Bearish) and let just monitor whether it will rebound or still goes down.. It need to break above the 20ma (1520 points) to counter this downtrend
5) RSI - Retracing toward 30% and if break below this will show a bearish indication.
6) ADX - Above average momentum and Bearish.

KLSE is currently in downtrend due to global temporary correction due to Middle East Crisis...

Support = 1477

For a reversal to happen
- Need to break above the 20 MA at 1520 points
- Form a higher high at 1531

Just do not panic in this type of situation and let monitor more. If break below 1477 then only we start panic and cut loss :)

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