FBMKLCI will rebound from level 0.786

10 janv.

Looking at the FTSE Bursa Malaysia KLCI Index chart, here's my analysis:

Current Price Action:
- Trading at 1,603.22, up 0.15%
- Currently testing key support levels
- Below all major moving averages indicating bearish trend

Elliott Wave Analysis:
- Completed waves (i) through (iv)
- Currently in wave (v) of the correction
- Potential for completion of larger corrective structure

Key Fibonacci Levels:
- 1,645.61 (0% retracement - major resistance)
- 1,632.89 (23.6% Fibonacci)
- 1,625.02 (38.2% Fibonacci)
- 1,618.66 (50% Fibonacci)
- 1,612.30 (61.8% Fibonacci)
- 1,591.70 (100% retracement - major support)

Technical Considerations:
- Price in downtrend channel
- Support around 1,600 level critical
- Volume showing potential exhaustion of selling pressure
- Money flow indicator suggesting potential for reversal

Short-term Outlook:
- Watch for bounce from current support
- Need to break above 1,612 for bullish confirmation
- Risk of further downside if 1,600 breaks
- Volume pattern suggests accumulation phase possible