FBM70 drop around 200pts (400pts previously). Rebound might happen (low chance) since the RSI rebounded from oversold zone.
FBM70 formed a lower high during this week. We see a downtrend will be started as the lower high formed after the price fail to stay above previous support (13900pts) during rebound.
Immediate resistant - 13900pts
Immediate support - 13550pts
FBMKLCI break the major support of 1600pts but closed 1605pts at the end of week. Rebound might happen (low chance) since RSI rebounded from oversold zone and price is diverged with MACD (lower price but no lower MACD).
Downtrend remain intact until higher low is formed.
Immediate resistant - 1617pts
Immediate support - 1600pts (mentally support) & 1572 (recent lowest)
FBMKLCI failed to formed higher low. Immediate support at 1617pts is borken and continue a lower low trend.
Downtrend remain intact on FBMKLCI until higher low is formed and maintain mid-term target at 1660pts based on the Fibonacci and previous gap.
Immediate resistant - 1617pts
Immediate support - 1600pts (mentally support)
FBM70 drop around 400pts (200pts previously) in last week and immediate support at 14250 pts is broken.
Uptrend remain intact on FBM70 until lower high is formed and maintain mid-term target at 15000pts. However, we pay foresee lower high will be formed soon and soonest since the support is broken.
Immediate resistant - 14250pts
Immediate support - 12688pts
FBM70 drop around 200pts in past 4 days. RSI and MACD are diverged with the price.
Uptrend remain intact on FBM70 until lower high is formed and maintain mid-term target at 15000pts. However, we pay attention to the divergence on RSI and MACD.
Immediate resistant - 14600pts
Immediate support - 14250pts
FBMKLCI rebounded from 1617pts and going sideway for the past 4 days and no clear sign from all indicators.
Downtrend remain intact on FBMKLCI until higher low is formed and maintain mid-term target at 1660pts based on the Fibonacci and previous gap.
Immediate resistant - 1643pts
Immediate support - 1617pts
