Last Friday, FBMKLCI pulled back to its medium-term uptrend line, SS at
1677. It rebounded to close at 1683. MACD is poised to do a negative
cross-under. At the same time, +DMI and -DMI are starting to converge.
Thus, it is critical the market should get more buying support early
this week, failing which we may see a bearish MACD cross-under and a
longer consolidation in the market. We will have to wait and see how
this will turn out.
Chart: FBMKLCI's daily chart as at July 5, 2019 (Source: malaysiastock.biz)
https://nexttrade.blogspot.com/2019/07/market-outlook-as-at-july-8-2019.html
