KLCI: Head and shoulder fully formed

30. Jan. 2021

head n shoulder fully form, next 1560 key point. if cant hold, back to 1520 or lower (probably another flash crash)
1560 is the point where h&s being held or not. (Reversal point)

Weekly Chart:

4. Feb. 2021

Anmerkung

Hourly Analysis

KLCI index rebounded and rejected near neckline of the Head and Shoulder at 1600, showing weakness for the week. We should expect heavy profit taking before Chinese New year. The daily price still under EMA 21 which means the bull is still weak.
If the 1575 is broken, probably will retest strong trend support (purple) again.
Next support: 1575