Today, our FKLI futures index went up 2 points to close at 1564.5. I can see that the moving average is at a reduced pace now. As I known, no trend could goes up forever. The reason why FBM KLCI dropped till this level is because there’s the expected minor correction which is not sufficient yet.
Based on the AmInvestment forecast, the FBM KLCI may experience further downside and their expected support level will be 1550 – 1540. If the index dropped till that level, then it will be a good chance to initiate ‘LONG’ position in order to ride on the long-term uptrend.
