I already talked about KLSE bottoming and pinpoint for a rally with my friend since last friday. Since the rally is in, I decided to give some critical levels for KLSE market analysis.
Confirmation for Further Upside Level = 1263
If 1263 is BROKEN, KLSE will move up to 1330, max 1352.
Thursday, March 27, 2008
Sunday, March 2, 2008
Market Outlook for KLSE (March)
(courtesy of Metastock chart)I haven't been updating my blog for a long time, as I went into a lazy state till now. I have joined a technical analysis firm and have improved my technical skills a lot. So now I will like to see how my training been paying off by applying my new skills to our KLSE.
Time Horizon = 1 to 3 months
Market Strategy = Stay Neutral until either upside / downside pivot is broken. However, I am more towards bearish bias.
Preferred Case = Bearish (sell shorts)
* If downside pivot of level 1340 is broken, a drop will occur to 1270 before max 1160.
Alternative Case = Bullish ( buy longs )
* Unless upside pivot of level 1435 is broken, then a rise will occur. Target not calculated as I am more towards bearish bias.
Bearish Indicators (Not shown on chart)
* Last high at 1524 could be the last top of Wave 5 (not a perfect top of preferred wave 5).
* Daily Volume showing bearish divergence.
* Daily Price action below 30-MOV.
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