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.
FBMKLCI Daily Chart
The FBMKLCI had a rally from January 2018 to May 2018 a good 5 months of rallies.
The FBMKLCI crashed from May 2018 to July 2018 a 3 months of market destruction.
The FBMKLCI had a rally from August 2018 to September 2018 a good 2 months of rallies.
The FBMKLCI crashed from October 2018 to November 2018 (currently).
The FBMKLCI had a very much needed rebound after the October crash and technically this is a technical rebound in the market. Applied Exponential Moving Averages (EMA) are still in a state of downtrend until its evidently proven a shift of trend occur just like in the month of January 2018 and August 2018.
Read more on the important technical resistant of FBMKLCI in our newsletter
Broad market KLSE stocks rebound
Broad market stocks stages a rebound but are all generally in a Downtrend state of technical rebound. Stocks in uptrend are hanging on their crucial support of which if not sustain will be a shift of trend stage.
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