Market Outlook as at Dec 3, 2018
3rd December 2018
This should be well-received in China as well its neighboring countries, such as Hong Kong.
We can see the Shanghai’s SSEC index is still below its downtrend line as well as its 50-day SMA line.
Chart 1: SSEC’s daily chart as at Nov 30, 2018 (Source: Stockcharts.com)
Singapore’s STI is still below its downtrend line but above its 50-day SMA line.
Chart 2: STI’s daily chart as at Nov 30, 2018 (Source: Stockcharts.com)
Hong Kong’s HSI is still above its downtrend line and its 50-day SMA line.
Chart 3: HSI’s daily chart as at Nov 30, 2018 (Source: Stockcharts.com)
Our market will likely to join in the rally. Our index is well below the intermediate downtrend line, RR. Before it can test that downtrend line, it will have to surpass the psychological 1700 mark and the horizontal lines at 1725.
Chart 4: FBMKLCI’s daily chart as at Nov 30, 2018 (Source: Stockcharts.com)
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