Hi everyone, how’s everyone doing?
My current thoughts of the current KLCI.
1. I’ve been watching the KLCI for awhile now, and it seems like we’ve been in this falling wedge pattern for quite awhile now.
2. Writing this at August 5 2019, The chart is telling us that we’re heading for more downward action in the next few weeks.
3. My thoughts are that a possible long entry in the index or the general market would be when the index hits the support line of the falling wedge.
4. And once we rebound from that support line, we will have a short rally before the cycle repeats itself, until we have a strong bullish breakout from the falling wedge, or a bearish breakout that would send us to lower lows and test the previous support levels which are shown in red.
5. Given the current market sentiments, the likelihood for a bearish breakout would be more probable.
6. Most stocks in the energy and construction sector ( i have been trading these sectors for the past few months) have already reached overbought levels.
7. Looking at the current US China trade war, We’ve had a false breakout from the falling wedge. Possibly due to the hopes of interest rate cuts from the Fed in July 2019, which was quickly shut down by a tariff imposed on Chinese goods.
8. Great buying opportunities lies ahead for those who are waiting for an entry into the market.
9. You know it’s the right time to buy, when your friends who normally flex their holdings aren’t doing it anymore.
My current thoughts of the current KLCI.
1. I’ve been watching the KLCI for awhile now, and it seems like we’ve been in this falling wedge pattern for quite awhile now.
2. Writing this at August 5 2019, The chart is telling us that we’re heading for more downward action in the next few weeks.
3. My thoughts are that a possible long entry in the index or the general market would be when the index hits the support line of the falling wedge.
4. And once we rebound from that support line, we will have a short rally before the cycle repeats itself, until we have a strong bullish breakout from the falling wedge, or a bearish breakout that would send us to lower lows and test the previous support levels which are shown in red.
5. Given the current market sentiments, the likelihood for a bearish breakout would be more probable.
6. Most stocks in the energy and construction sector ( i have been trading these sectors for the past few months) have already reached overbought levels.
7. Looking at the current US China trade war, We’ve had a false breakout from the falling wedge. Possibly due to the hopes of interest rate cuts from the Fed in July 2019, which was quickly shut down by a tariff imposed on Chinese goods.
8. Great buying opportunities lies ahead for those who are waiting for an entry into the market.
9. You know it’s the right time to buy, when your friends who normally flex their holdings aren’t doing it anymore.
评论:
评论:
Bearish until 2020
评论:
Breakout soon? Or Breakdown?
Breakout soon? Or Breakdown?