Similar to what I detected 15/11/2011, another signal of bearish has been detected at 5/12/2011. Both situations also face with the same resistance level. MACD unable to reach the same height as the previous peak. I interpret this as accumulation activities from around 22-29/11/2011 and markup for distribution. This might be a signal for another of bearish. Few more price bar are required to confirm the trend of the indexes.
Monday, December 5, 2011
FBM KLCI as at 5/12/2011
Similar to what I detected 15/11/2011, another signal of bearish has been detected at 5/12/2011. Both situations also face with the same resistance level. MACD unable to reach the same height as the previous peak. I interpret this as accumulation activities from around 22-29/11/2011 and markup for distribution. This might be a signal for another of bearish. Few more price bar are required to confirm the trend of the indexes.
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