Ugly Tuesday

FBMKLCI dropped another 21 points (-1.23%) to close at 1701. The decline was broad-based with 46 gainers and 747 losers.

FBMKLCI has so far completed its 'head and shoulders' and 'double-top' reversal patterns. The index is fast approaching the trendline of 'bump and run' reversal pattern. Once the index goes below the trendline, the reversal pattern is confirmed and I will need to work out how low it will drop.



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