A level of important trend formation when once formed tend to persist until evidently proven reversed. A bullish trend allows price to move higher highs and higher lows over a long period of time.
A level of important trend formation when once formed tend to persist until evidently proved reversed. A bearish trend allows price to move lower highs and lower lows over a long period of time.
The flexing U.S Dollar rebounded from its support at $93.41 to its highest nearing to $96.00 before consolidating for a couple of days now. A breakout from the $96.00 level will further weaken the Asia stock market. The dollar is in need for a slump back down towards its previous support. A break down below this level of support $93.41 will be even better. Crucial Dollar Moment!
The Malaysia FBMKLCI daily chart price trend performance.
- Left side Bullish Trend formation.
- Followed by a Bearish Trend formation after the general election.
- Bullish Trend formation seen again in the month of August 2018.
- Recent price correction on the FBMKLCI had cause the index to break down its important support of 1,777pts.
- The FBMKLCI need to close back above 1,787 in order for the Bullish Trend formation to remain intact.
- Failure to do so will mean the index will be breaking down its recent support 1,769pts. This will cause a formation of a Bearish Trend.
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