Sunday, May 30, 2010

Bursa Malaysia Weekly Summary

KLCI Weekly Chart

A bullish reversal candle was seen on last Thursday's trading. Does this mean that KLCI will close the gap of 1290-1300? If this happens, thenKLCI may be forming the right hand shoulder of a H&S pattern. If KLCI closes lower this week, then most probably we can say bye-bye to the bull and hello to the bear. So, watch closely how things will be played out.

Looking at the various sectors, property is the weakest, this is followed by plantation and construction. You can try to bottom fish, but this is not my game. I will slowly go into bearish mode.

Malaysia Monthly Weekly Daily
FBM KLCI Up Neutral Down
Finance Up Neutral Down (-)
Construction Up Neutral Down
Plantation Up Down (-) Down
Property Up Down Down

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