We saw a bear and a bull market all in one week. Wow!! I know some traders which made money on both side - they ought to be put on a pedestal!! hahhaaha... They are really good.. anyway, this week - rebound should continue...
US markets - DOW could consolidate for another day or two before resuming its uptrend toward the 12,900-13,100. Thereafter, i believe that there could still be more downside from there. Should Dow beat the 13,100 resistance, then I may have to change my view. Otherwise, it should still be in consolidation, probably trying to find its bottom, the 4-year trough that almost everyone is looking for.
STI-should track the US markets for now... similarly, fall early week then continue on its rise towards the 3,268-3,325 level. Beating the 3,325 level would likely end this correction. Keep a lookout.
KLCI - It needs to build a base before it can rally again... Again, it needs to beat the 1,435 support-turned-resistance before it can run again... Be vigilant....
No comments:
Post a Comment