Daily chart is shown. Just manage to close above the uptrend line that was formed from 900. Long shadow hammer may indicate a rebound. This will be confirmed with a white candle. If a rebound happens, the upper resistance will be around 1250. With everything so oversold, I am expecting a rebound. But the weekly indicators are really bad, so the rebound should be weak. Technically, the uptrend is still intact if one view from the monthly chart.
Monday, August 20, 2007
KLCI (17 Aug 2007)
Daily chart is shown. Just manage to close above the uptrend line that was formed from 900. Long shadow hammer may indicate a rebound. This will be confirmed with a white candle. If a rebound happens, the upper resistance will be around 1250. With everything so oversold, I am expecting a rebound. But the weekly indicators are really bad, so the rebound should be weak. Technically, the uptrend is still intact if one view from the monthly chart.
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2 comments:
CI year end target 1500. Time to buy!
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