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 gapped down on Thursday, closing 29.56 points lower to 1223.56 points. The KLCI breaks below the 1244 Fibonacci Retracement support line, and may find a temporary support at 1215 level. Nevertheless, the falling of the 14, 21, 31 EMA is still the main dynamic resistance for the KLCI, and as long as the KLCI is still resisted by the falling EMA, the outlook shall remains bearish biased.
Total market volume increased 21% on Thursday, but however, the increase of volume was associated by a sharp fall of the KLCI. Therefore, the increase of volume suggests some increase of selling pressure. If the volume should remains relatively higher while the KLCI is falling, it would further dampen the market sentiment. (Study B)
As circled at C, the Stochastic remains below the 30% level, which is the short term bearish region. Therefore, the Stochastic is still suggesting a short term bearish movement for the KLCI.
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 1997-2008 Straits Index (M) Sdn Bhd All
rights reserved