FBMKLCI - Bear signal watchout
Updated
Comment :
1) TrendX+ indicator - first red candlestick appear, wandering above trend line , mid-term uptrend
2) DDX+ indicator - watch out for bear signal that came out on 19th August 2022, and also look out for red trend-cross which indicating a resistance
3) MCDX+ indicator - banker bar (red) fall below MA10 line, while retailer bar (turquoise) starting to appear, indicating a retracing now
4) FBMKLCI is under retracement currently, it will need to break through resistance @ 1519.68 to potentially enter long positions
Support & Resistance:
R : highest on 19th August @ 1519.68
DISCLAIMER :
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
1) TrendX+ indicator - first red candlestick appear, wandering above trend line , mid-term uptrend
2) DDX+ indicator - watch out for bear signal that came out on 19th August 2022, and also look out for red trend-cross which indicating a resistance
3) MCDX+ indicator - banker bar (red) fall below MA10 line, while retailer bar (turquoise) starting to appear, indicating a retracing now
4) FBMKLCI is under retracement currently, it will need to break through resistance @ 1519.68 to potentially enter long positions
Support & Resistance:
R : highest on 19th August @ 1519.68
DISCLAIMER :
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
Note
Rebounce done previously has not really invalidate the Bear signal, it hasn't cross above highest @ 1519.68 of 19-Aug. On 9-Sept, Bull signal shows up but invalidated as FBMKLCI continues its Bear on 13-Sept by breaking the lowest of 9-Sept.
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