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Here are the analysis that I do on the KLCI for the month of January 2020. I update them almost everyday so do come back and press the refresh button.
If you take a look at the 60 min chart above, you will see that the KLCI is a bit choppy at the moment. It has risen quite a bit since December 2019 which is the correct place to buy for a short term reversal.
Currently I do not see a nice continuation pattern in the KLCI. A continuation pattern is where the index has gone up a lot and you wait to see if a valid and nice continuation pattern forms before entering a stock or index.
It could be in the form of a triangle or box or ascending triangle or some type of consolidation before breaking out.
But right now as you can see, it is a bit choppy.
This is because of the 200 day moving average (which is not shown here). Take a look at the daily chart of the KLCI and you will realize that it is near the declining 200 day moving average. This act as a resistance and put in some fear into the minds of traders.
So, do expect some choppy and sideways trading before (if) the KLCI breaks out higher.
Jan 18, 21 10:34 AM
New chart lesson for the 3rd week of January 2021. Hope you can benefit from this.
Jan 04, 21 11:30 AM
In this week's chart lessons, we will have a look at bitcoin and other charts.
Dec 29, 20 07:47 AM
We should continue to be bullish on the S&P 500 as a weekly bottoming tail forms in this uptrend.
Dec 22, 20 09:27 AM
The SPX is still in a nice bullish uptrend, with it staying above the rising 20 MA and 50 MA.
Dec 15, 20 09:53 AM
December 14 2020 will go down in history as one of those moments where 2 sets of electors emerge for swing states in the US Presidential Election.