WinChart Technical Analysis
Daily Market analysis
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On Tuesday, the KLCI ended almost unchanged, closing at 1230.96 points. As indicated by A, the 14, 21, 31 EMA is still falling, and still serving as the dynamic resistance for the KLCI. Therefore, the immediate outlook for the KLCI is still bearish biased, with a temporary support at 1215 level, followed by the 1157 level.
As indicated by B, although the total market volume increased 11.2%, it is still below the 40-day VMA level. Therefore, in short, the market is still lightly participated, thus the KLCI is likely to remain weak or sideways.
As circled at C, the Stochastic is still staying below the 30% level, which is the short term bearish region. Therefore, the market movement for the short term is still bearish biased.
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