One Huge & Unusual Parabolic Move

If you are seeing this, this is certainly a huge (+ unusual) parabolic move by Malaysia’s FBMKLCI (especially after a strong year end window dressing for 2017). As per public media, the current sentiment seems to provide support a pre-election rally (which shall be held by August 2018). Personally, I am really not sure how long can the index sustain its on-going strong momentum. Nevertheless, ADX seems to support this parabolic move, with ADX exceeding above the minimum threshold of 25. Could there be pullback opportunities for short positions? If there is a pullback, would it retrace to 1,793? Next resistance is anticipated at around 1,860.

Parabolic FBMKLCI_09012018.png

DISCLAIMER: THIS IS A PERSONAL BLOG AND SHALL NOT BE RELIED IN WHATSOEVER MANNER BY ANYONE. ALL ARTICLES CONTAINED IN THIS SITE ARE STRICTLY FOR INFORMATION AND ILLUSTRATIVE PURPOSES ONLY AND DOES NOT PURPORT TO SHOW ACTUAL RESULTS. IT IS NOT, AND SHOULD NOT BE REGARDED AS INVESTMENT ADVICE OR AS A RECOMMENDATION REGARDING ANY PARTICULAR SECURITY OR COURSE OF ACTION. SOURCES USED IN THIS SITE HAVE NOT BEEN INDEPENDENTLY VERIFIED FOR ACCURACY, COMPLETENESS AND TIMELINESS. YOU SHOULD SEEK INDEPENDENT AND PROFESSIONAL INVESTMENT ADVICE IN REGARD TO YOUR INVESTMENT DECISIONS. THE AUTHOR MAY HOLD POSITIONS IN THE SECURITIES MENTIONED IN THE ARTICLES.

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