Tuesday, May 31, 2011

Market Outlook as at May 31, 2011

FBM-KLCI & FBM-Emas have both broken above their medium-term downtrend line (RR) at 1555 & 10700, respective. With these bullish breakouts, I expect the market to continue to rise.



Chart 1: FBM-KLCI's daily chart as at May 31, 2011_4.00pm (Source: Quickcharts)



Chart 2: FBM-Emas's daily chart as at May 31, 2011_4.00pm (Source: Quickcharts)

Based on the above, we can be more constructive in our trading or investment.

3 comments:

Ivan said...

That 's great news.
But wondering will european debt crisis may churning our uptrend

Ivan said...

Moreover QE2 is near to ending. . .wondering. .worry

Alex Lu said...

Hi Ivan,

Investors are deluged by all kind of issues, from sky-rocketing commodity prices to Euro debts crisis, from US debt ceiling countdown to Japanese recession, from political upheaval in MENA countries to economic hard-landing in China. And, yet the markets are riding higher... climbing a wall of worry. The last time we saw something similar was in 2007-2008. I hope this script has a happier ending.