Market Outlook Date: 29/11/2020

   KLCI

23 to 27 Nov 2020:

KLCI moving within a narrow range. On Friday it failed to break above the resistance level from Aug 2020. 

If KLCI failed to break the resistance level it likely to move sideway.
However, need to watch out for bearish divergence signal (if indicator forming lower higher).

Overall, KLCI uptrend still intact as long it don't formed lower low or break below the trend line.

Support at 1590, 1560, 1520
Resistance at 1620, 1660, 1690

S&R remained the same.

DJIA

Bravo! DJIA formed higher high with all time high record at 30,116.5

After DJIA hits new high on Wednesday but Friday it formed bearish harami cross, bearish signal similar with 17 Nov 2020 (bearish harami cross).

Please watch out for big bearish candle.

DJIA uptrend still good to go as long don't break below the right most line.

Support at 29200, 28900, 28400
Resistance at 30300

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