KLCI & Futures - Doji Evening Star in Futures

KLCI - the rise on Tuesday is not convincing enough. It barely breached the IHS neckline at 927 but volume was only mediocre, not high enough to be a convincing breakout for IHS. Also index was stopped at the very strong resistance of 931. I am confident that the CI will reverse & correct down & possibly form a double shoulder. No IHS breakout yet. Also there is a Doji Evening Star in the CI Futures (see below), so a reversal & correction in both CI & CI Futures is most likely outcome.


There is a massive Doji Evening Start reversal formation in the CI Futures. It gapped up strongly by 6 points over Monday's close in forming the Doji & this makes the pattern more likely to happen. If it opens BELOW 924, then the possibility of a reversal is very likely. Support is at 905 level. I call a SELL on CI Futures here.