Market Outlook KLCI & DJIA, Date: 01/05/2020

Technical view on KLCI:

Up to date, KLCI still moving within the area between Fibonacci Retracement Level 38.2% & 61.8%.
From the chart, we can see that market support at 38.2% level. The significant resistance level remained the same as yet broken by the market.

At the moment, MACD still stayed above zero level while RSI also above 50 level. Overall momentum still positive.

On 23 APR 2020, market reacted to the blue vertical line and turned to down direction for 3 days before turned green again.

The next turning point / acceleration point is at 19 MAY 2020, 9 trading days to go.

Technical view on DJIA:

DJIA also the same still within the range between Fibonacci Retracement Level 38.2% & 61.8%

The momentum of DJIA still in positive side as MACD is above zero level and RSI is above 50 level.

However, the significant resistance level not yet broken so don't be too optimistic.

On 28 APR 2020, DJIA also reacted to the vertical blue line closed a down day before continued up.

The next turning point / acceleration point at for DJIA is at 19 MAY 2020, 12 trading days to go.

Remember to monitor the turning point / acceleration point closely.

Our view still the same, market not yet uptrend. PLEASE WATCH OUT!!!

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