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.
Malaysia FBMKLCI 1 Hour Price Trend
The Hour Chart, shows the hourly price movement on the FBMKLCI. Golden Trend formation was seen on the 10th July. The index had a strong rally from 1,682pts – 1,811pts. Index retraced into a correction trading sideways forming a Deathly Trend but no violation of crucial support 1,777pts was seen. Sideways movement for 6 trading days lead the index into another Golden Trend. Shall there be no hiccups on the global market sentiment, the index will be seen testing its previous high of 1,811pts.
How does the Malaysia Stock Market index perform versus the neighbor?
TFM Eagle Eye Newsletter Issue #298 will be out soon!
(Release Date: 26.08.2018)
Weekly outlook on equities indices and derivatives market
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