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.
Malnutrition Stock Market
The FBMKLCI broke down its 1,657 low which is Year 2018 low earlier this week before rebounded back up above this level. The past 2 days of index rebound had shown nothing significant changes towards the KLSE market. Stocks are as boring as usual. Technically the FBMKLCI remain in a Bearish Downtrend since October 2018 and still remain in a bearish downtrend in the month of December 2018. The FBMKLCI 2 days rebound ended when it technically hit its resistant (blue line) and retrace from there on wards. A close below 1,657 level will be interesting to the bear market players. Or else it will just be another game of consolidation until year end with no significant movement.
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