Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 25/01/2011
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As shown on the chart above, the Bollinger Bands expanded 46%, with the KLCI below the Bollinger Middle Band, and this suggests that the downside movement of the KLCI is still dominant, and the KLCI loss 16.54 points to close at 1526.43 points.

As indicated by A, the KLCI breaks below the 1537.63 WinChart Automatic Fibonacci Retracement, and therefore, the next support is at 1525.49%, 50% Fibonacci retracement line. Resistance would be at 1537.63.

As indicated by B, total market increased 6.39%, and stays above the 40-day Volume Moving Average. Market is still actively participated, despite the KLCI is falling. Generally, if volume is higher when market falls, it implies that the selling pressure is increasing.

As indicated by C, the Stochastic fall back to 0%, while staying in the short term bearish territory. This suggests that the market movement of the KLCI is still weak, until the Stochastic could successfully break above 30%.

As the KLCI breaks below the 31-day EMA as well as the T1 uptrend line, the technical outlook for the KLCI is turning negative. If the KLCI should failed to resume its positive above the T1 line or the 14, 21, 31 EMA, the risk of forming a downtrend would be higher.

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