Winchart Technical Analysis
Daily Market analysis
| Learn Technical Analysis and get your credit hours at the same time. WinChart Technical Analysis Training is Accredited by: | |||
 |
 |
||
As shown on the chart above, the KLCI continued its consolidation on Monday, closing 8.25 points lower to 1364.14 points. However, as indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support for the KLCI, and if the KLCI should rebound from the rising dynamic support, the uptrend for the KLCI shall resume, and the KLCI would test the all time high at 1392.18 points.
As indicated by B, total market volume increased another 2.6% while clearly above the 40-day VMA level. Generally, volume above the 40-day VMA level suggests an improving market participation and inflow of fresh capital; however, if the KLCI should consolidate or correct with high volume, this could imply a stronger resistance ahead as selling pressure increases.
As indicated by C, the MACD histogram continue ticking lower, and the rounding top signal remains intact. This shows that the KLCI is indeed consolidating, and the consolidation is expected to continue until the MACD histogram tick up and form a rounding bottom.
Find this analysis useful? Why not share it with others? Click Here to send this to a friend
 1st Online Training In Malaysia |
 |
 |
 |
| View the Online Training | More Market Analysis | Find out more about WinChart | Upcoming Events |
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 1997-2007 Straits Index (M) Sdn Bhd All
rights reserved