Get started
Bursa Malaysia KLCI IndexBursa Malaysia KLCI IndexBursa Malaysia KLCI Index

Bursa Malaysia KLCI Index

No trades
See on Supercharts
Overview News
Ideas
Discussions Seasonals

KLSE trade ideas

Update on KLCIAs mentioned in the previous post we are indeed going through retracement to our KLCI index. However this retracement is accompanied by major global issue, the big retracement of the Dow which recorded a worst single day intraday point drop of 1597 pts (6.26%) on 5Feb2018 before recovering to close down 1175pts. This almost made it equivalent to the previous biggest intraday point drop of 1089 (-6.6%) which happened on 24Aug2015. So what do we expect about our KLCI? Currently the index is; 1. Seen ended its 5th wave extension and already staged a pull back (after hitting 61.8% FE level @ 1879) to form a selling climax at 1795 level. 2. Rebounded after hitting the selling climax to crawl slightly above the 61.8% FR levels. 3. Supported on EMA20 At the moment a cautious stance need to be taken as the correction waves A-B-C is no where seen to complete. If the EMA 20 support is broken, the support from the FR levels 1827 and 1813 will be the reference. Currently, at 2.50 am, the Dow is down 587pts. Wish the KLCI good luck on a lovely Friday.
INDEX:KLSE
by PeterTing
FBMKLCI to continue run its course1. The FBMKLCI index continued to stay above most bullish indicators (SMAs, Ichimoku, Donchian etc..) and is moving on sideway range between 1820 - 1830. Overall technical picture is still in a bullish state. 2. Expecting a further gain towards the previous high at 1840 (resistance-1), 1853 (R2) and 1866 (R3) levels. 3. As it is believed that wave-5 is pending to complete, any signs of short-term weakness are likely to be part of the correction in wave 4. No sign of wave-5 failure seen yet. 4. Immediate support is seen at 1813 and the next, at 1800 psychological support and EMA20 support. Short term traders are advised to monitor cautiously at these points.
INDEX:KLSE
by PeterTing