FKLI - Everybody Waiting For What's Next Coming Out Of Crimea - 3/11/2014

The market flashed a new sell signal on last Monday when price went below the top band with the Stochastic crossed below the 80's signal line. But the signal was not confirmed because price did not go below the signal day low. Instead price begun to drift upward again. We are having a contradicting indicators signals now with a positive MACD and a negative Stochastic. The DMI has begun to wriggling like a worm and ADX has been falling and it has now reached 12's level. All these are confirming a listless market.

Since price has been hugging below the top band, so the market is still bearish biased.

 

At the weekly chart, there is an interesting development for the bull. The Stochastic is in the process of crossing above its 20's level. I will wait for price to cross above the top band to call for a new buy signal. The MACD stays negative and DMI is positive. But since the ADX stays flat and below the 20's signal line which is confirming a listless market, I am not too enthusiastic on the possible new buy signal yet.

 At both the daily and weekly chart all are pointing to a listless market . But I continue to stay alert for a possible collapse in the market as presence of a multiple bearish divergences in the chart. As the Crimea crisis can go either way, any clashes will definitely bring fear out in the market, even though it may not affect Malaysia directly.