KLCI ended mixed on Wednesday, losing 0.86 points to 906.90 points. As indicated by A, the KLCI was situated in the congestion of the multiple exponential moving average, while the multiple exponential moving average were moving flat. This suggested that the KLCI was gearing for a next movement, while the multiple exponential moving averages still serving the immediate dynamic resistance. (Study A) Nevertheless, support for the KLCI is now seen at 903.86 and the next resistance will be at 883.29 Fibonacci Retracement.

As circled by B, Stochastic %K retreated slightly after entered the over-bought region, while still staying marginally above the 90% level. Nevertheless, Stochastic suggested a bullish short-term market sentiment. (Study B)

As shown by circle C, the MACD histogram ticked higher, suggested that the bullish signal was still taking control. The bullish signal shall continue until the histogram starts to tick lower, which would suggest a weakening of the bullish signal. (Study C)

Straits Index (M) Sdn Bhd
No. 16, Jalan LP 1A / 5, Lestari Perdana,
43300 Seri Kembangan, Selangor
Hotline: (03) 8941 6828  (5 lines)   Fax: (03) 8941 9828    
Email: info@straitsindex.com
© Copyright 1997-2006 Straits Index (M) Sdn Bhd All rights reserved