Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 07/04/2011
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As indicated by A, the KLCI gained 9.04 points or 0.58%, and the 14, 21, 31 EMA is still serving as the dynamic supply to the KLCI, while the resistance is at 1577 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands expanded 2%, with the KLCI above the Bollinger Middle Band. The technical outlook for the KLCI is on the positive side. If the Bollinger Bands should continue to expand, while the KLCI stays above the Bollinger Middle Band, more upside volatility for the KLCI is expected.

As indicated by B, total market volume increased 0.19%, with volume above the 40-day Volume Moving Average. This suggests that the market is still actively participated. However, if the KLCI were to break above the 1577 resistance, more volume is needed.

As indicated by C, the Stochastic remains above 70%, in the short term bullish territory. This suggests that the short term movement of the KLCI is still strong.

In conclusion, since the KLCI is still staying above the rising 14, 21, 31 EMA, and if the KLCI should continue rising, it means that the consolidation is over, and the KLCI will be testing the 1577 resistance.

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