Malaysia Stock Market FBMKLCI "Asian Tiger" a Long Journey to go

The Malaysia FBMKLCI entered into a Long Term Downtrend since last year 2018 in the month of September the index formed a Deathly Crossover of the 3 lines applied. Since then the index had it's momentum hammered all the way downward from 1,826 to 1.626 lowest in the month of December 2018. As the global market starts to recover entering into the Year 2019 on wards the Malaysia FBMKLCI definitely need to follow suit by having its recovery from its lowest 1, 626 towards its highest 1,732 in the month of February 2019. In the month of February 2019 the FBMKLCI hits its crucial resistant which is the (red line) and since then the index retraced from that high towards 1,664 in the month of March 2019.

The Malaysia FBMKLCI continues to maintain in its Long Term Downtrend scenario unless 2 key level of resistant have been achieved in the near term:
1) 1,700 psychological resistant level
2) 1,760 crucial point of resistant level

Once these 2 level of resistant have been achieved the Malaysia will then only be on its right track moving towards "Asian Tiger" journey which is now far to be seen yet.

The Malaysia FBMKLCI Downside risk level:
1) 1,626 the immediate support level.

Index performance does not guarantee your portfolio of stocks performance. Stocks will have their own individual performance. Views shared on the FBMKLCI does not recommend a buy/sell on the general KLSE stocks decision

Yorum:

The FBMKLCI has broken down its immediate support level of 1,626.
Next support to look at is its psychological support 1,600