Thursday, 4 June 2020
Dear Readers of my Blog,
Bursa has come to my attention that it had rallied almost 100% from recent covid 19 low at price level 4.32 myr on 19 March 2020.
Bursa has display a parabolic signs and an imminent correction is about to take place usually 15%, 20% or 25% from high. The price computed is 7.2675 (15%), 6.84 (20%) and 6.41 (25%). Bursa has rallied to 8.55 recent high from covid 19, 19 march low of 4.32 which is computed as 98%.
Currently, we are in a unloved bull market and technical analysis charting on Bursa seem to suggest for an uptrend to be intact and validated, it must experience price swings, so it is observed that Bursa has not seem a valid correction with a parabolic price movement impulsive wave, in the worst case scenario it may see price level 4.32 retest again impulsive wave down but the probability is low, refer to Fund Flow analysis of worldwide financial markets to cross reference.
Disclaimer: All news, information and charts shared is purely by my research and personal views only. This is not a trading recommendation or advice but on the basis of sharing information and educating the investment community. Different traders and investors adopt different trading strategies and risk management approach hence if in doubt please approach or seek clarifications with your Financial Adviser, Broker and Banker.
at June 04, 2020