Stock Market Analysis Aug 16 2016
The stock market broke above another box and resume the uptrend. Slowly but surely it is rising. I do not see any sign of weakness yet in the stock market and all signs point to a healthy uptrend so we will remain bullish until the charts tell us so.
Here is a summary of what the chart tells us:
Here is a summary of what the chart tells us:
- Major indexes are bullish short term, mid term and long term. We will remain bullish till the charts tells us so.
- Malaysia's KLCI has broken out of a cup and handle pattern and target will be around the area of 1720.
- Oil is in an uptrend but beware the short term resistance overhead
- Gold and silver may be trading sideways for awhile
