Tuesday, February 9, 2010

KLCI - retracement to Fib 23.6%?


You could be looking at a Fibo retracement of 23.6% or around there, if without the help of invisible hands. Afterall, confirmation of the Bear has been established with price dropping below 100MA. I would think the Bull will give it a tough fight at Fib 23.6% because it is also the point of 200 MA. It will not be a straight dive though, but with waves along the way. So be careful.

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