Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 01/10/2010
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As indicated by A, the FBM KLCI rose 2.82 points to close at 1466.32 points, while the resistance remains unchanged at 1479.59, support is at 1436 followed by 1424 WinChart Automatic Fibonacci Retracement.

As shown on the chart above, the KLCI is returning to above the Bollinger Middle Band, thus if the Bollinger Bands should re-expand, there is a good chance that the KLCI would resume its uptrend.

As indicated by B, total market volume was basically unchanged, but managed to stay above the 40-day VMA level. Therefore, the general market sentiment is likely to maintain on the positive side.

As indicated by C, the Stochastic ticked up slightly on Friday, but it has not broken above 70%, thus not yet entering the short term bullish region.

In short, the KLCI is returning to above the Bollinger Middle Band, with technical outlook slightly improving. The long term uptrend remains intact as the 14, 21, 31 EMA is still supporting the KLCI.

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