ZLBT Chats

Friday, August 28, 2009

Intra-day Positives

The US Dow Jones shrugged off the intra-day bears to move higher yesterday. More importantly, our local FBM-KLCI managed to squeak out a white candle by market closing, which reaffirms our positive views on the market. Intra-Day Bulls : An affirmation of our positive views
The intra-day bulls were busy at work yesterday, brushing aside the bears to pave the way upwards for the US Dow Jones and our local FBM-KLCI.

Last night, the bears were having the upper hand in the US markets. However, the bulls recovered to push the Dow into positive territory by market closing. As a result, a positive hammer candlestick pattern was formed in the charts, thereby reaffirming our positive views on the US market.
Similarly on the local front, the KLCI bulls also succeeded in shrugging off the bears during intra-day trading. As a result, our KLCI closed with a positive candle yesterday which denotes more bullishness ahead.
Strategy :
We reaffirm our short term, mid term and long term positive view on the FBM-KLCI.

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