Another up month. Monthly RSI and Stochastic indicates that the market can still go up as it is still not yet overbought.
However, looking at the weekly chart, I see a possible break of uptrend line! For me, this means that it is not a time to buy. No solid sell signal yet. Correction still in progress. For the uptrend to continue, KLCI must consolidate between 1220 - 1250.
For the rest of the sectors, I see weakness but am not alarmed yet.
|FBM KLCI||Up||Up||Neutral (-)||R=1.3k, S=1.2k. Correction|
|Finance||Up||Up||Neutral (-)||R=11k, S=9.5k. Correction|
|Construction||Up||Up||Neutral (-)||R=250, S=220|
|Plantation||Up||Up||Neutral (-)||R=6.15k, S=5.8k|
|Property||Up||Up||Neutral (-)||R=820, S=760|