2021-12-07 17:14:03
The market had a decent rebound today and this was likely led by the rebound from DJI. This is because investors and analyst in the US are rather relaxed on the issue of Omicron.
Looking at DJI chart, we can definitely see a potential rebound to test the 35519 resistance area. If it can breakout from the resistance, this may trigger a rebound in our KLCI market as well.
The current KLCI market is still testing its support of 1486. From a big picture, our market is still in a downtrend, but will this Omicron variant turn out to be the catalyst of our market rebound?
There has been research carried out by the Deutsche bank showing that only a small percentage of investors believe that the Omicron variant will bring a significant impact.
This goes to show that most investors believe in the ability of the current vaccines to be effective against Omicron. Numerous vaccine producers had also made statements that they can tweak their current vaccines to be effective against Omicron within a short period of time.
Conclusion, the world has been through the numerous covid waves and therefore most countries will be well prepared against the new Omicron. Vaccines are also widely available and ready to be improved against this new variant.
So do you believe that the Omicron is just a false alarm. Put your answer down in the comments section!
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