Will Futures Kuala Lumpur Index Bounce After Budget 2022?
Technically speaking, market selling force remained strong despite Malaysia Budget 2022 having the highest allocation compared to previous budgets, the hurt of pandemic is relatively hard.
We shall say the Budget 2022 mainly for economic recovery and digitalization boosting.
Market likely to continue to move lower to test on the immediate support level at 1535, followed by 1510.
Maintain divergence view for FKLI, as stochastic signals downtrend signs.
While candlestick pattern shows Double Top at resistance level of 1600.
Downtrend signs remained strong, unless market starting to show rebound signs from support level at 1510 & 1535.
We shall say the Budget 2022 mainly for economic recovery and digitalization boosting.
Market likely to continue to move lower to test on the immediate support level at 1535, followed by 1510.
Maintain divergence view for FKLI, as stochastic signals downtrend signs.
While candlestick pattern shows Double Top at resistance level of 1600.
Downtrend signs remained strong, unless market starting to show rebound signs from support level at 1510 & 1535.