Symmetrical Triangle for Bursa KLCI! Bull or Bear?
14th June 2021
The FBM KLCI finished 0.46% or 7.3 points higher at 1,582.46 in line with gains in regional markets. It a good start to the week but also a challenging week. The local political front, uncertain over the outcome from the Agong's meeting with the council of rulers this Wednesday, expect investors to stay sideline waiting for the final outcome.
The KLCI weekly chart, it showing a Symmetrical Triangle. Pray hard to coming Wednesday something positive after the Agong's meeting, most likely the KLCI index would challenge Resistance 1,600 point. But if negative, Index could break Symmetrical Triangle support and go hovering at 1,540-1,550 points.
The FBM KLCI finished 0.46% or 7.3 points higher at 1,582.46 in line with gains in regional markets. It a good start to the week but also a challenging week. The local political front, uncertain over the outcome from the Agong's meeting with the council of rulers this Wednesday, expect investors to stay sideline waiting for the final outcome.
The KLCI weekly chart, it showing a Symmetrical Triangle. Pray hard to coming Wednesday something positive after the Agong's meeting, most likely the KLCI index would challenge Resistance 1,600 point. But if negative, Index could break Symmetrical Triangle support and go hovering at 1,540-1,550 points.