Friday, January 16, 2009

Getting weaker

KLCI Daily Chart

We can find some sort of formation in the KLCI chart now. It looks like a rising wedge. The upper (around 940) and lower (around 860) boundaries have been set. Look for a big move in either way when these imaginary lines are broken. I'm expecting a down move. The chart has not indicate any possible big move yet. The technical is getting weaker based on the daily chart. For the rest of the sectors:
Malaysia Longterm Midterm Shorterm
KLCI Down Neutral Neutral (-)
Finance Down Neutral Neutral (-)
Construction Down Neutral Neutral (-)
Plantation Down Neutral Neutral (-)
Property Down Neutral Up
Mesdaq Down Down Down (-)
2nd Board Down Down Down

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