FKLI - Start of a bear market?
Updated
FKLI Technical Update
- after the recent break of consolidation phase
- Market now at risks of breaking below a very critical ascending Trend line starting early year 2010.
- Critical Support seen at 1657.78 for KLCI
- Critical support for FKLISP at 1655
- A successful closing below this "critical support" is a strong selling signal, possibly signals the start of a bear market.
- For 1st mover, a sell stop below 1654 to 1654.50, do note setting a sell stop is risky. sell stop limit may help to prevent filled prices from slipping.
- Meanwhile safe short would be to wait for a successful closing below "critical support, pending a Inverted U pullback, with "new high below 1657.78 or below 1655 for FKLI.
Disclaimer : Idea sharing only, trade at your own risk
- after the recent break of consolidation phase
- Market now at risks of breaking below a very critical ascending Trend line starting early year 2010.
- Critical Support seen at 1657.78 for KLCI
- Critical support for FKLISP at 1655
- A successful closing below this "critical support" is a strong selling signal, possibly signals the start of a bear market.
- For 1st mover, a sell stop below 1654 to 1654.50, do note setting a sell stop is risky. sell stop limit may help to prevent filled prices from slipping.
- Meanwhile safe short would be to wait for a successful closing below "critical support, pending a Inverted U pullback, with "new high below 1657.78 or below 1655 for FKLI.
Disclaimer : Idea sharing only, trade at your own risk
Note
Updated ( 11/4/2019)FBMKLCI Weekly
Ascending Trendline broken..
Bearish sentiment confirmed w long term selling signal
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.