As pointed by A, the KLCI continued its consolidation in the congestion zone at the 14, 21, 31 EMA. KLCI was again precisely supported by the 949.91 Fibonacci Retracement line and therefore, the 949.91 Fibonacci Retracement is still the immediate support to the KLCI, while the resistance is still unchanged, at 970.49. (Study A)

As indicated by B, WinChart RSI declined slightly while still situated in the neutral region. If the KLCI were to go sideways, WinChart RSI would then be floating at the 50% region, thus suggesting a neutral market sentiment. (Study B)

As circled by C, Stochastic remained below 30% level, in the short-term bearish region. At the moment, Stochastic is still suggesting a bearish signal for the short-term time frame, and therefore, provided that the Stochastic is below 30% level, market sentiment for the short-term is likely to stay bearish. (Study C)

Find this analysis useful? Why not share it with others? Click Here to send this to a friend

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