Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 09/09/2010
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As indicated by A, the FBM KLCI gained 3.64 points, to close at 1437.78 points, and it puts the KLCI back above 1436 level, if the KLCI could stay above 1436, it would be the support level for the KLCI.

As shown on the chart above, the Bollinger Bands contracted 3%, suggesting that the KLCI is basically still at its consolidating stage, but immediate technical outlook remains positive as the KLCI is still above the Bollinger Middle Band.

As indicated by B, total market volume fell 25.9%, due to the shorterning of trading hours on the eve of Hari Raya holiday. Basically, not much changes in term of market participation, and the market is still relatively quiet.

As indicated by C, the Stochastic remains above 70%, in the short term bullish region, suggesting that the short term movement for the KLCI is still bullish biased.

In conclusion, immediate technical outlook for the KLCI remains positive as it is staying above the Bollinger Middle Band, but to resume its uptrend, the Bollinger Bands has to re-expand with the KLCI staying above the Bollinger Middle Band.

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