Did KLCI found its bottom on recent low?
FBM KLCI has been reaching it record low in 2019 while the FBM small cap has been been on a small up trend.
The main reason where KLCI has been dropping tremendously was due to the crash of the banking sector due to the estimated interest rate drop in the future
Therefore the money has been float out from both banking sector and Malaysia and RM has been weakening recently.
From technical wise of view we can see that the chart of KLCI has some shadow around the 1610 area which might possibly found it temporary support
but to regain the confirmation of rebound we would required a green candle next week.
If the Malaysia Government would like to re-activate on the construction project which on hold the economy of the country might recover in the future which might benefit the KLCI index too.
Solely for education purpose without any buy or sell recommendation.
The main reason where KLCI has been dropping tremendously was due to the crash of the banking sector due to the estimated interest rate drop in the future
Therefore the money has been float out from both banking sector and Malaysia and RM has been weakening recently.
From technical wise of view we can see that the chart of KLCI has some shadow around the 1610 area which might possibly found it temporary support
but to regain the confirmation of rebound we would required a green candle next week.
If the Malaysia Government would like to re-activate on the construction project which on hold the economy of the country might recover in the future which might benefit the KLCI index too.
Solely for education purpose without any buy or sell recommendation.
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