Sunday, January 1, 2012
KLCI - 3rd Bullish Candle In A Row
Kuala Lumpur composite index closed at 1530.73 with a little up of 11.82 points against last year 2010 KLCI which was closed at 1518.91. It was a roller coaster year for 2011. All tension was built up by two big brothers; US and Europe.
Week to week, KLCI had been up for 3rd week forming three white bullish candles in a row. There is high chance that the market will correct at least for one or two candle then decides the direction later.
I would wait for the opportunity to short FKLI (Kuala Lumpur Future Index) based in daily chart.