Market Outlook as at February 11, 2015

With a shortened week ahead, our market is likely to see some selling pressure. Thus I believe that any rally between now and next week will unlikely to break above the intermediate downtrend line, RR at 1830.

The immediate support level for FBMKLCI will be at 1800. I think the psychological 1800 level is not likely to be violated. If it happens, then the index may test the 1770 mark. That would be the maximum downside in the current market.


Chart: FBMKLCI's weekly chart as at Feb 11, 2015_11.00am (Source: ShareInvestor.com)

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of FBMKLCI.