source: [i3investor]
Market Outlook as at November 13, 2013
Author: Alex Lu | Publish date: Wed, 13 Nov 16:19 | >> Read article in Blog website
With a week of strong economic data, pundits and analysts alike are now worried that Fed will begin its tapering exercise (or the rolling back of its QE operation) in December (go here). Already, we have seen sharp correction in EM currencies & sovereign debts. This has or will spread to EM equity soon as had happened in August (go here).
For FBMKLCI, we can see the index has broken below the psychological 1800 level. The next support would be the 100-day EMA line at 1773; the psychological 1750 level; and, then the intermediate uptrend line (S-S2) at 1735.
Chart: FBMKLCI's daily chart as at Nov 13, 2013_4.00pm (Source: Quickcharts)
For FBMKLCI, we can see the index has broken below the psychological 1800 level. The next support would be the 100-day EMA line at 1773; the psychological 1750 level; and, then the intermediate uptrend line (S-S2) at 1735.
Chart: FBMKLCI's daily chart as at Nov 13, 2013_4.00pm (Source: Quickcharts)
