Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 08/04/2011
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As indicated by A, the KLCI retreated 4.44 points or 0.28% on Friday, but still above the 14, 21, 31 EMA, which is still serving as the dynamic support to the KLCI, while the resistance is at 1577 WinChart Automatic Fibonacci Retracement.

As indicated by B, total market volume increased 6.01%, while staying above the 40-day Volume Moving Average. This suggests that the market is still actively participated, thus it would be able to sustain the now improving market sentiment as a whole.

As circled at C, the Stochastic remains above 70%, in the short term bullish territory. This suggests that the short term movement of the KLCI is still on the positive side, until the Stochastic should break below 70%.

In conclusion, the KLCI is still consolidating, but the technical outlook remains positive as it is supported by the 14, 21, 31 EMA dynamic support. If market volume should increase, it would be a positive element for the whole market.

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