Sunday, December 06, 2009

Bursa Malaysia Weekly Summary

FBM KLCI Weekly Chart

Still at around the same place for 7 weeks now. I'm expecting for the big sell, but it is not coming. Looks like the market is frustrating both the bull and the bear.

Malaysia Monthly Weekly Daily Note
FBM KLCI Up Up Up (+) R=1.3k, S=1.2k.
Finance Up Up Neutral R=11k, S=9.5k.
Construction Up Neutral Down R=250, S=220. Serious correction
Plantation Up Up Up R=6.4k, S=5.8k.
Property Up Neutral Down R=820, S=760. Correction

Looking at the various sectors, the strongest is the plantation. I think that if KLCI is going to go up, it will have to rely on the plantation counters for the push.

No comments: