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Friday, September 03, 2010

Bursa Malaysia Weekly Summary

KLCI Weekly Chart

I missed out the weekly RSI downtrend line. It seems the weekly RSI downtrend line has been broken about 3 weeks ago. That means the bearish divergence has been negated. Since weekly and daily chart are both in the overbought zone, we need to move to the monthly chart. It seems that the monthly RSI is just slightly over the overbought zone.

All sectors are positive now:
Malaysia Monthly Weekly Daily
FBM KLCI Up Up Up
Finance Up Up Up
Construction Up Up Up (+)
Plantation Up Up Up
Property Up Up Up (+)

If this whole thing gonna blow over, then the laggards (property & construction) must rally and then go kaboom!

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