A level of important price resistant for price to surpass and also a level of important price support to maintain above. Price trading above the RALLY POINT will mean more upside price action ahead.
A zone where price is deemed WEAK in the short term period. Only progressive rebound can be seen trading in the short term. But failing to SURPASS the RALLY POINT will only put the price into a longer term of downtrend price action.
FBMKLCI 1 hour
- FBMKLCI Downtrend Price Rally since 18th May 2018.
- Each rebound failed to go beyond the ‘point of trend reversal’ resistant.
- Current FBMKLCI 1 hour chart potentially surpassing above 1,700pts. Highest short term target kept at 1,735pts. (point of trend reversal)
- Certainly by surpassing above 1,735pts and staying above that level will switch the FBMKLCI from a downtrend price rally into an uptrend price rally.
- Failure to do so will bring another short term price retracement.
- MACD indicator at bullish price movement now.
TFM Eagle Eye Newsletter Issue #291 will be released on the (07.07.2018)