FBM KLCI Weekly ChartKLCI: Still going up, but beware! Volume is lower than the previous week. All possible Fibonacci retracements have been reached. The next possible resistant is at 1300. If this is broken, then most probably the gap at 1350 will be closed.
Sector summary:
| Malaysia | Monthly | Weekly | Daily | Note |
| FBM KLCI | Up | Up | Up | R=1.3k, S=1.2k. |
| Finance | Up | Up | Up | R=11k, S=9.5k. |
| Construction | Up | Up | Neutral | R=250, S=220. Correction |
| Plantation | Up | Up | Up (+) | R=6.15k, S=5.8k. Correction |
| Property | Up | Neutral (-) | Neutral | R=820, S=760. Correction |
Look out at the plantation sectors. It got a big boost on Monday, but then no life. From the CPO chart, looks like a breakout has occurred (I will post the chart in the commodity summary).
I'm currently teaching myself on how to trade the index by playing the index call warrants. This derivative instrument has a different behavior and I'm trying to adjust myself to it. Only when I feel that I'm familiar with it that I will trade the index futures. Past futures mistakes still haunt me. Just need to rewire my mind.
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