KLSE is one of the unique index that is able to sustain well by our local institution. Most of the Asia Region went down more than 1% and KLSE manage to climb back to reduce their lose to 0.27% only . This action formed a strong hammer..
1 ) Trendline - Broke below the uptrend line .. ( Bearish )
2) Support/Resistance - Broke below the previous low ( Bearish )
2) Support/Resistance - Broke below the previous low ( Bearish )
3) MACD -Bearish Crossover with MACD 4G6R ( Bearish ) . Awaiting for 4R1G signal
4) RSI - Broken below 50% (Bearish) ,
4) RSI - Broken below 50% (Bearish) ,
5) STO - Broke below 20% and bearish crossover (Bearish)
6) Ichimoku - a) Price coming meeting from the support cloud
6) Ichimoku - a) Price coming meeting from the support cloud
b) Conversion line below the base line (Bearish).
c) Price close below the baseline ( Bearish) .
7) Candlestick pattern - Formed matching low . Click here (bullish).
c) Price close below the baseline ( Bearish) .
7) Candlestick pattern - Formed matching low . Click here (bullish).
Conclusion:
Bearish.. Formed at strong hammer. If tomorrow went up with a white candle will indicate a bullish reversal and if not it will continue to bear down to the next support at 1621.
Resistance- 1649 / 1668 /1681 /1725
Support - 1621 / 1600 / 1594 / 1581
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