1,600 is only one step away!

Today, Malaysian stocks easily broke through the 1,590 level. At noon trading, they had already risen to the 1,595 level. The whole office was excited, speculating whether they could break through 1,600 points when the market closed today.

After all, the last time I stood above 1,600 was on April 29, 2022, two years ago.

As to whether there will be a market correction tomorrow, BBBWealth financial planner Xiang Qingfa pointed out in an interview with “Nanyang Commercial Daily”: “The current trend of the comprehensive index has formed aStrong upward momentum. Based on the recent active trading sentiment in the market, and with the help of the return of foreign capital,Breaking through the 1,600 psychological level won't be a big challenge.”

It means that breaking through 1,600 points is not a dream; however, will it continue to rise after passing 1,600 points? He pointed out,1614 points is a strong resistance.

” After all, 1,614 points is also the level where the epidemic has plummeted. The funds of many retail investors are locked in this region, so it will become selling pressure, impacting the upward momentum of the composite index.
Are 1,600 points just a flash?? He pointed out that if the Composite Index's rise is blocked,It is estimated that it will enter a period of consolidation, but as long as the 1,575-point support level is maintained, the overall upward trend can still be maintained.