The Malaysia FBMKLCI today rose 13.49 points to 1637.63 points led by most of the index-linked stocks. The FBMKLCI recently rebounded from its crucial support 1617 points to avoid going for a deeper market correction ahead of the general election in Malaysia. But is the current market rebound a market rally with the upcoming election fear is still around the corner?
Like how we mentioned in our previous post, the rebound of the FBMKLCI from its crucial support 1617 points does not mean a market rally will occur anytime yet until a ‘short term trend is formed’, else the current market rebound will not last and with any sudden bad news will bring the FBMKLCI for a pull back to its crucial support. However if a short term trend is able to form in the FBMKLCI a rally is expected but with the fear of the general election investors/traders are still advised to invest and trade with care.