If you are seeing this, this is certainly a huge (+ unusual) parabolic move by Malaysia’s FBMKLCI (especially after a strong year end window dressing for 2017). As per public media, the current sentiment seems to provide support a pre-election rally (which shall be held by August 2018). Personally, I am really not sure how long can the index sustain its on-going strong momentum. Nevertheless, ADX seems to support this parabolic move, with ADX exceeding above the minimum threshold of 25. Could there be pullback opportunities for short positions? If there is a pullback, would it retrace to 1,793? Next resistance is anticipated at around 1,860.
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