1. DJIA hit 1st strong support level 24,720 and rebound. If this level crash down again we may able to see 23,500 and 21,750 (2nd strong support). For current situation, DJIA maybe just finished short term consolidation and wait for another uptrend. The biggest risk for US is still coronavirus. Highest level 29,568.57
2. Nasdaq short term support 8270 however 1st strong support found 7300 and 2nd strong support 6188. Technology stocks rebound will be fast and strong if world economy come back to normal. Highest level 9838.37
3.HSI still in downtrend and might be consolidated side way since China market don't have any good news yet. Support should be 25,500 and 24,550, if HSI crash down 24,500 then it will go into very bearish situation.
4. Crude oil price drop is due to slow down in world economy which pull down the world demand for crude oil. Strong support is USD40 and USD 33. The price it will stagnant and consolidated around USD40. Crude oil is in downtrend however due to interference from production country the trend can change.
5. Gold is clear signal on uptrend with volume. Market uncertainty and world central bank keep reduce interest rate will help to push gold price up further. Strong support 1535 and 1450. Gold might able to test 1700 and 1800 level.
6. KLCI start dropping since Apr 2018 which is the highest level 1890 points until now 1480. KLCI strong support will be 1400 and 1300, resistence 1514 and 1560. Due to coronavirus, politic uncertainty and low crude oil price, Malaysia currently face the biggest challenge for their economy. Malaysia is not an open economy therefore any sharp fall or deep fall on their economy will take some time for recovery. Unless world economy able to recover fast from current threat if not KLCI will drop further.
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From：林友志 （Lim Yu Chee) 012-7685809 / Makubex718@gmail.com
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