Daily KLCI Technical Analysis 19/04/05 

On Tuesday, 19/04/05, KLCI rebounded slightly from yesterday’s loss. 10 days Bollinger Bands remained unchanged indicating that the current volatility of the KLCI is still low (A). At the mean time, KLCI remained at the down trend channel, T1 and T2. Daily high was at 872.16, daily low at 866.87, and closed at 867.77, advanced 1.11 points (0.1%). For the day, volume stood below 40 day WMA (B) at 279,058,100 shares up 0.6%. 

Currently, KLCI’s resistance is still at the WinChart automatic Fibonacci Retracement of 878.96 and also the down trend channel resistance (T1), while the support is at Fibonacci 859.81. 

Both Stochastic and RSI are situated at the neutral zone, between 30% and 70%. This is normal behavior of STC and RSI if the market is going side ways.

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