Wednesday - 2 April 2008
10.15 a.m. - Malaysian Time
A few days back , I tried to post my forecast to my blog but it did not get through. I just wonder why?
Since the market is about to open in just a few minutes more, I do not think I will be able to do any detail forecasting today.
According to Japanese candle stick, the bar for yesterday's was a hammer. In this situation, it is believed that the bar indicates the reversal pattern. Sometimes it turns to be the other way round.Most investors like this bar, anyway it will depend on the opening. If the opening is higher than yesterday's highest, the probablity is that the market will end a white bar, but in the early part of the trading, the market may be moving southwards. If opens too high, it is hard to say.Also if the market opens within the body of yesterday's ( more towards to the highest of yesterday ) and later moves up beating yesterday's highest ( better if it beats 4 to 10 points above yesterday's highest), it may end with a white bar today.Also look for trendlines, more on going upwards.