(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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