2022-02-28 13:29:30
Previously, DJI broke below its support around 33832 following the Russian invasion on Ukraine. Though looking at it now, DJI has successfully climbed back above the broken support. This shows that US market is yet to give in and is still sustaining.
Of course as long as the war continues, there will be great instability revolving around the market, so don't expect a huge bullish surge to appear.
Looking at FBMKLCI, despite the index performing quite decently, the counters itself are just ok as there are generally more bearish counters than bullish. Only counters from specific sectors like Plantation and Aluminum are those that have been benefitting from this war. While the rest, not as much.
Russia and Ukraine is currently having talks of a ceasefire, so we will have to see what's the outcome of that. But, for the time being, it would be best to stay sideline and monitor the situation first.
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