Monday, June 08, 2009

KLCI: V Shape or U Shape?

KLCI has been uptrend since early Mar'09 and it continous to show good performance and indeed did not dissappointed me trying to hit my 1st target at 1100 points (Refer Dec'08 Post). Base on the current trend I can said the KLCI has potential to forward to 1200-1250 level. BUT once reaching this level I can said we must confirm what recovery shape does KLCI apply. For V shape recovery the correction should not go below 1160 and if correction breakdown from 1160 it has potential to reach below 1000 points which will be in U shape category and the KLCI will trading range bound within the specified range and the uptrend momentum will be slow! So let us wait and see what type of shape our KLCI will be heading. :-) Happy Trading!

[Previous KLCI Posting]
http://bursabulltrader.blogspot.com/2009/04/klci-riding-up-hill.html

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