Last Friday the KLCI closed much lower
than the previous low (13.05.2015) of 1,795.16 point. This is a bad sign
as it deems that the KLCI would eventually going to create new low.
As we can see after the technical
rebound occurred, the KLCI managed to climb until 1,823.50 (18.05.2015)
point before it took a sharp U-turn and went down on the next day.
It really caught me by surprise as the
U-turn was so fast. It just took 4 days for it to come down to close
last Friday at 1,787.50 from a low of 1,780.11 point.
Next support would be 1,774 point. If
this support also taken out, the next target would be around 1,706
point. Stay out from this market because at these moments it is quite
bearish with "Lower High and Lower Low" been created. A sign of a DOWNTREND in the process.
Group discussion on "Malaysian-Shares FBMKLCI" Facebook.
http://malaysianshares.blogspot.com/2015/05/lower-high-and-lower-low-created.html
