This is purely for study on technical analysis and not a suggestion for.trading.
Gann theory is about SPECULATING the market. looking at the recent price action, KLCI on last friday touched 1880, but failed to remains at high. It was closed up but in actual fact closed lower than the opening price. Thus, giving a red candlestick with a tail on top n bottom of the candle body. We expect its goin to open gap down today, and as expected, its opened gap down. At the time this was written, klci is having another 30minutes before it close.
KLCI low today was near to 1840, but currently it is at 1854,. The level 1840 might b a strong intraday support for klci, but still doubtful that it can stand the pressure if DJIA continue to fall tonight. We suspect that this level goin to be tested again later. If klci breakdown 1840 and later1833 level, there is a possibility that klci will reach 1800 at the end of this week (8feb). And hopefully its will not breach that 1/2 gann line but rather react and bounds.
Thank you.
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