Composite Index closed mixed on Monday with a lost of 2.21 points, ending at 925.33 points. As indicated in the chart above, KLCI is still supported by the 10 days Bollinger middle band dynamic support, but however, with a lower shadow line piercing below the middle band. Therefore, direction for the KLCI is somewhat unclear with the Bollinger band width as narrow, for a break below the dynamic support with the band width reopening would open up more downside room for the KLCI. (Study A)

Total market volume for the day stood at 3.32 million lots only, and volume at this level is definitely below the 40 days VMA level, which suggests that the market participation was low. (Study B)

As indicated in circle C, both lines of the Stochastic has breached below the 70% level, which suggested that the short-term bullish sentiment has ended. At the moment, Stochastic suggests that the short-term market sentiment is neutral. (Study C)

Copyright 1997-2005 Straits Index (M) Sdn Bhd, All Rights Reserved