FBM KLCI Weekly ChartKLCI has broken the previous resistance. Looks like it is going towards 1300 and above. Most probably it will cover the gap down at 1350. The fuel for this rally should be from the plantation sector. Finance sector is almost at its 2008 high now. Therefore, I don't think that finance will contribute much to this rally.
| 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 (+) |
This week, the construction and property sectors gave a buy signal. However, based on my interpretation, this move is not strong. Both still need to correct first before they can move any higher.
Anyhow, daily charts indicate a slight overbought scenario. So, I'm expecting a pullback. This could be the last rally before reality sets in again for the next panic.
No comments:
Post a Comment