Malaysia Equity Market So Near But Yet So Far
The recent plunge in the Malaysia FBMKLCI for more than -50 points triggers a selling mode for most of the retail investor as fear of the upcoming general election are haunting investors and traders. Although the global equity market are having a good rally for the past 2 weeks, the Malaysia FBMKLCI failed to play catch up with the regional market. However the FBMKLCI is currently well supported at its crucial support at 1623 points. As long as the market is well supported above this level the Malaysia FBMKLCI is still bullish in the long run. Failure to support at this crucial level then the Malaysia FBMKLCI will be at a high risk of going for a bigger market correction.
The Malaysia FBMKLCI based on the short term trend analysis have been in a market correction since early January 2013. As the FBMKLCI is currently well supported at its crucial support at its Long Term Trend Analysis, a confirmation of a short term trend formation is needed in order to call for a market rally. Else the market will continue to trade at a weak sentiment.
(Founder of Trend Traders Network, Equity Market Investor/Trader, Trend Follower, Financial Speaker)