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 indicated by A, the KLCI is testing the 14, 21, 31 EMA dynamic support again on Monday, closing 12.75 points lower to 1384.73 points. As the moment, the KLCI is still supported by the 14, 21, 31 EMA, and therefore, it has not form a downtrend yet. Nevertheless, the resistance for the KLCI is now at 1423.81 while the next support is seen at 1357.20 Fibonacci Retracement line.
As indicated by B, total market volume was again almost unchanged, while struggling to stay above the 40-day VMA level. Nevertheless, the relatively lower volume during the KLCI correction is still viewed as a normal. As long as the KLCI is still supported by the 14, 21, 31 EMA, there is still no sign of a downtrend forming yet.
As circled at C, the Stochastic %K line is situated at the short term neutral region, suggesting a short term neutral movement for the KLCI. However, this signal is yet to be confirmed. If the Stochastic %D line should fall below the 70% level, it would confirm the %K line signal, and the KLCI movement for the short term would turn from bullish biased to neutral.
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