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 Bollinger Bands Width expanded another 25% on Wednesday. With the KLCI continue staying below the Bollinger Middle Band, the expansion of the Bollinger Bands Width suggested a continuation of the bearish signal. At the moment, the KLCI is testing the 1357.20 Fibonacci Support. If the KLCI should break below the 1357.20 support, the next support for the KLCI would be at 1315.99 Fibonacci 38.2% Retracement line.
As indicated by B, total market volume declined 17.6% on Wednesday while still staying below the 40-day VMA level. This shows that the market participation is indeed low, and therefore, without sufficient inflow of fresh capital, the KLCI is less likely to regain its strength.
As circled at C, the Stochastic continue staying below the 30% level, which is the short term bearish region. Therefore, as long as the Stochastic is still below the 30% level, the market movement for the short term is expected to be bearish biased.
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