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FBMKLCI

August 7th, 2020 by dimpledbrain

Timely update for FBMKLCI

(1) We last left it at 0 where I said the max it can go is 1550 before a change of behaviour

(2) What transpired was it actually went to as high as ~ 1600 (Point 1) before reverting to ~1470 (Point 2)

(3) From here, it shot up to Point 3 – which I think is due to lower interest rate announcements (multiple times) by Central Bank

(4) There is therefore intermediate strength in the chart – to confirm this uptrend, the next pullback after Point 3 – expect it to hold strong above Point 2

(5) If #4 above fails, then it will sink back down

(6) Counter intuitively, probability now favours upmove until the trend is proven otherwise

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