Another profit taking day. After a bearish start on DJ “recession” fear, regional bourses managed to reduce losses as players took comfort of a stronger commodity price as $ drop sharply. Klci probably had its worst day this year as bluechips took a big hit. Fkli still has high hope for the Klci to recover towards 1080.Both Fkli and Klci dip into technically negative zone. While Fkli was “OK”, Klci bearish technical outlook will probably give longs a big headache in the coming days. More downside is expected until it forms a white candlestick. Or could 14SMA (the yellow line) is the key support again?
In the meantime, upside is seen as “recovery” rather than a renewed uptrend. Above 1083, can give fresh long a try. For keen sellers, sell below 1080 and 1070.
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