CI Futures, KLCI & Tebrau

Futures - Formed a bearish Harami at a strong resistance zone (940). Reversal signal indicating prior trend has ended. Should correct downwards with initial support at 933 & further support at 921. Only question is if the 132 points rise in the Dow today delays the correction.


KLCI - Bearish Harami formation Tuesday. Volume has been declining but prices rising. This divergence in trend is not a good sign. Other indicators are flat. A correction is due but a strong rise of 132 pts in the Dow on Tues may hold it up for a while. If not the question is will it be a minor correction to 939 or 931 or a bigger correction to the IHS neckline of 924? Either way a correction is due & coming.


Tebrau - still no sign of strength. Getting closer to end of descending triangle. Vol is very low. Indicators still negative. Its still a game of wait & see but be prepared to sell if it falls below 0.50. Resistance is now 0.55