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Malaysia Futures Trading 5 years Weekly Chart By Tokan Corner :

Hello readers, how yours trading? Hope your are making money with FKLI Futures. As for today I make an assumption based on 5yrs weekly chart for discussion…just for a refreshment for our trading guides.

As we can see the market closed nearly at Tripple Bottom Area as I mentioned before on my previous post. But the weekly chart showing us some ugly indicator. Eventhough the market has rebound from 1427 to 1479.5, on the weekly chart the indicator still showing us like MACD and Slow Stoch is going south region. Any bad news will accelerate the downward momentum.

Ok..lets us study based on previous major correction on 2008. That year the correction wipe out nearly 400 points then renounced to 38.2% Fibo. Using that as a guidance I estimate “IF” the world realy going to recession or the US going to double dip recession our next target is at 1200 zone area then it rebounced back to 38.2% Fibo before it continue to slide down more.

Pls check out the chart and gimme ur opinions and lets have discussion on this matter guys ^_^