KLCI Analysis by Straits Index (M) Sdn Bhd

KLCI Daily Analysis 18/04/2005年	Copyright (c) 1997-2005 (M) Sdn Bhd All Rights Reserved.

Daily KLCI Technical Analysis 18/04/05 On Monday, 18/04/05, KLCI pulled back from T1 of the down trend Channel and broke down the 10 day Bollinger Band Middle Band, as well as the 200 day MA. As a result, KLCI remained at a down trend. KLCI opened gapped down at 871.85. Daily high was at 872.7, daily low at 863.93, and closed at 866.66, downed 7.59 points (-0.9%). For the day, volume remained below 40 day WMA (B) at 277,485,200 shares downed 19%. Currently, KLCI’s resistance is still at the WinChart automatic Fibonacci Retracement of 878.96 and also the down trend channel resistance (T1), additional resistance is at the 200 days MA at 874 points, while support is at Fibonacci 859.81. %K of Stochastic pulled back and broke the 50% level, suggests that the short-term bullish is over. However, if KLCI goes side way, the significance of Stochastic is reduced. Mean while, RSI is still remained at the neutral zone. If RSI break below 30% zone, it implies a mid-term bearish market.
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