Tag Archive for: MALAYSIA KLSE COMPOSITE INDEX

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MALAYSIA KLSE COMP INDEX

July 28, 2015/0 Comments/in EMERGING MARKET EQUITIES, Uncategorized/by Aksel Kibar

Weakness in emerging market equities can be seen across the board. From commodity exporting South American countries indices to China’s trading partners in emerging Asia, all show downtrends.

Head and shoulder top is a bearish chart pattern and usually forms after prolonged uptrends. It acts as a reversal chart pattern and successful completion could result in a multi-month downtrend. Malaysia’s KLSE Composite Index formed a 2 year-long head and shoulder top. Support remains at 1,670 levels. Decisive break (on a weekly closing basis) below 1,670 will complete the head and shoulder top and result in a downtrend towards 1,400-1,450 area.

MALAYSIA KLSE COMPOSITE INDEX

December 3, 2014/0 Comments/in EMERGING MARKET EQUITIES, Uncategorized/by Aksel Kibar

Malaysia KLSE Composite index formed a head and shoulder chart pattern. Head and shoulder top is a reversal chart pattern and it is bearish. Today the index slipped below the neckline at 1,770 level. Consecutive daily closes below the support at 1,770 level will confirm the breakdown and possibly push the index towards 1,650 levels in the following weeks. Negative view for the Malaysian equities is confirmed by the weakness in the local currency which breached 3.37 resistance over the past few days. Breakout from a year-long sideways consolidation range can result in further weakness towards 3.55 levels for the Malaysian ringgit.