Let’s try to predict the market. The market is slowly going down every day. We saw a bearish divergence signal on 17/11/09 and this time it worked. The market’s trend was reversed after the bearish divergence signal. Luckily for us the divergence signal is not a strong one, otherwise the market should had plunged aggressively.
Let’s see what are the support levels? The immediate support is 1256 and the next is 1248. If 1256 and 1248 are broken, then 1237 is consider as a crucial support for KLCI in the short term. It should rebound from there; otherwise the market trend will reverse to mid-term bearish if 1237 is broken. Please click and check the KLCI chart below.
