Bursa Malaysia FBMKLCI BIG REBOUND ahead of Budget 2015

FBMKLCI

Budget 2015 will be held on the 10th October 2014 and we expect the Bursa Malaysia FBMKLCI to stage for a Big Rebound in the coming week. Key important resistant to take note is 1848 as a breakout from this level will trigger a Big Rebound towards 1854-1860. Key important support to take note is 1835 (EMA50w). FBMKLCI support at its EMA50w plays a very important role since Year 2012 as it has never closed below its EMA50w since then. A violation of its EMA50w support will trigger a Bear Market similar to the one in Year 2011 that brought the FBMKLCI to plunge -17%. 

 

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