edramlan

edramlan

There was a slight upward movement last week, likely due to the price reacting to the support area. However, strong resistance remains at the 4,000 level. The recent bounce from support might reach this resistance and result in continued consolidation. Range traders can benefit from this environment while it persists. Trend traders, on the other hand, may prefer...

edramlan

Another week of consolidation for FCPO. The price remains range-bound, suggesting that without a decisive move higher or lower, FCPO is unlikely to make significant progress. For range traders, consider going long at support levels and targeting resistance, or vice versa. For trend traders, it may be prudent to wait for clearer price action. A strong movement...

edramlan

The price remains within its range, showing minimal movement last week. Despite expectations, it has not made any significant progress upward. The outlook suggests that the price could move higher, but it needs to close and sustain above the 4,000 level to see a substantial increase. Based on the current consolidation, we observe that the price may have formed a...

edramlan

There was no follow-through on the bearish outlook from last week. Instead, the index increased after the market opened on Tuesday. Following this, the index entered a consolidation period. Moving into next week, it appears that the bulls remain in control. The index is expected to push higher, targeting the 1637 area.

edramlan

Earlier in the week, prices dipped below the neckline, but they recovered slightly by the week's end, closing just above the neckline. The 4000 price level remains a resistance area. Despite this setback, the bullish outlook is still intact, with prices continuing to consolidate. Next week presents an opportunity to go long, with the target price remaining...

edramlan

KLCI is expected to continue lower as it remains under pressure at the current level. An attempt to push higher on Friday failed, resulting in a bearish key reversal. A drop to the 1587 level is possible. If this level doesn't hold, the next target would be 1565.

edramlan

The price broke through the neckline with strong momentum and retraced slightly on Thursday, creating a buying opportunity. It then continued higher on Friday, confirming a rounded bottom pattern. From here, the price is expected to continue rising. A long position targets 4135 initially, with a potential move to 4230 depending on next week's price action.

edramlan

Last week, the KLCI appeared to hold within the 1620-1618 range. However, a bearish candle on Friday and an overall weekly bearish key reversal candle are concerning. Ideally, we hope to see the index bounce higher to the 1625 level before potentially declining further, first towards Friday’s close and then even lower to the 1608 level.

edramlan

Expecting another week of consolidation. Would really like to see price to move lower to the range support and bounce higher from there and perhaps even higher to close above the range resistance. Another week of wait and see.

edramlan

A small dip before continuing higher targeting 70066 area.

edramlan Updated 

Technically at the current level KLCI looks heavy. If price cannot hold above 1615 then a bigger retracement is expected towards 1585 to 1571 support area.

edramlan Updated 

Price has been in consolidation mode for at least 2 weeks. Good trading weeks for range traders but definitely not good for trend traders. Will be looking for further price action early next week to further determine the direction. Price needs to close either above or lower of the resistance or support level. Overall view is still bearish based upon how aggressive...

edramlan

FCPO retraced but didn't go as far as expected. It's showing a bearish price action since middle of the week. For next week it is expected that bearish price action to continue. Shorting it will target the area of 3745 and 3721 as potential TP.

edramlan

FCPO is consolidating. It is bearish however some retracement is expected. A retracement would perhaps target the 3945 to 3965 area though there is a few resistance that price need to overcome.

edramlan Updated 

FCPO might have shifted bearish. However for next week, there is a possibility that it might bounce higher. Price is expected to target 4090 area and possibly higher above 4100 area. From there it is expected that price to continue lower depending on the price action next week.

edramlan

FCPO looks heavy. The drop might not ended yet but there might be a retracement higher. At this current level standing aside might be a good idea. Monday price action might be a good indicator on where price will go this week. Stand aside for now until new signal emerges.

edramlan

A further retracement lower is still in play. A reversal on Friday may turn out to be only a manipulation. The move higher might only be to fill up the gap at 4300 area before continuing lower. 4200 is the area where price should be next week. Expecting a consolidation in this area before the next move higher. Overall still bullish until proven otherwise.

edramlan

Still with a view that a further retracement is possible to the 4280 area. However the overall theme is still bullish. Depending on volatility, the price might consolidate at this area before going higher.