Sunday, August 16, 2009

Weekly Summary

KLCI Weekly Chart

Weekly chart show overbought (RSI). However, no bearish divergence yet but there is one in the daily chart. From the chart, you can see that there is no horizontal resistance until 1300. But I don't think it can move up without any correction (due to the overbought market).

Currently I'm just hanging on to my profitable position. If there is no big crash, I think that the lower liners will continue to play catch-up for the coming week.

Malaysia Monthly Weekly Daily Note
FBM KLCI Up Up Up Overbought. Daily bearish divergence
Finance Up Up Up Overbought.
Construction Up Up Up Overbought.
Plantation Up Up Up Overbought. Breakout from downtrend
Property Up Up Up Slightly overbought.
FBM ACE Up Up Up Will challenge the previous high

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