KLSE possible to stay above 1700 in year end?KLSE index now is at all-time high since July 2019,
it reached top of the tunnel, can it really break up and head to 1800?
With so many uncertainties in political problems and increasing numbers in Covid, EPF cashing out, I'm doubt about it..
I'm expecting a rejection very soon.
If you like my work, please hit the like button :)
FBMKLCI trade ideas
FBMKLCI: Bullish for GOOD or BADBased on my view,
1) market break the trend and now starting to bullish to completed the last wave (wave 5) - Bullish for GOOD
--------------- OR -------------------------
2) Market already completed correction for wave A and now bullish for wave B before continue bearish for wave C - Bullish for BAD
with current pandemic situation right now and the new MCO order from Government starting next week, most probably the FBMKLCI market will Bullish for BAD.
KLCI - Recent Terms Elliott Wave Count (Bullish) Refer to the chart, KLCI has completed its wave (1) - (2) waves formation and likely moving uptrend towards the wave 1 of wave (3).
This is further supported with past two days candlesticks closing have broken out from its resistance line and stay above the resistance.
Likely to witness bull markets and index will continue to move upwards beginning of next week.
Stay bullish, and happy trading!
FBMKLCI - GOING TO BE SUPER SUPER BULLISHFBMKLCI, after going through many years of index formation into the expanding diagonal pattern the index is highly likely forming into the wave 1 of Elliott wave count.
Market is expected going to be super super bullish as it is now in wave 3 of wave (3) phase.
Stay Bullish.
Long term Bearish The index has been collapse since early Aug this year followed by a significant breached below an uptrend line and symmetrical triangle in late Oct coincide with MACD sell signal. The collapse was preceded by a Dead cross earlier in Sept, hence confirms our bearish view on the index. The index could continue the down move to at least 1386 which is a minimum triangle continuation target, which falls on the same level at Fibonacci 1.618.
Disclaimer : the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.