KLCI Daily Technical Analysis 27/04/05 

KLCI literally unchanged on Wednesday’s trading. For the day, KLCI opened at 872.65 with a daily high at 874.84 and daily low at 870.19 and closed at 872.45, exactly at 10 days Bollinger Band Middle Band. Again, KLCI was support at T1, this is the current dynamic support, and also at 10 days Bollinger Band Middle Band. As for the resistance, it is still remained at WinChart Automatic Fibonacci Retracement at 878.96. (Refer to A) 

10 days Bollinger Band unchanged on Wednesday. Thus showing volatility is low, and market is quiet. Total volume traded on Wednesday was downed 2.4%, and needless to mention, it is still below the 40 days VMA. (Refer to B) 

Both RSI and STC are located in the neutral zone, and evidently, KLCI is moving side-ways. On DMI, (Directional Movement Index), +DI crossed above –DI. This is a mid-term bullish signal. But, this is yet to be confirmed by ADX. ADX is falling from above thus giving no confirmation of the DMI mid-term bull signal. The best confirmed signal of DMI crossing is when ADX moving up from bottom following the crossing signal. To conclude, DMI is also showing neutral signal. (Study C)

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