Bursa Malaysia - Refused to Die ?

FBMKLCI plunged 41 points (2.4%) to 1660 within the first 25 minutes today.

However, buyers came out after the initial plunge and pushed the index to 1686 at the close for a 15 points drop.

Has the index dropped below the 'Bump and Runs Top Reversal' trend lines ? Looking at the bar chart below, The index remains on top of the trendline.

 

  From the line chart, the index at the close also managed to rest on top of the trendline.

The 26 points intraday rebound can be considered as sharp. Is this the starting of wave (v) ?
Or it is just a technical rebound before another plunge as the game is already over.

Be careful.



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