Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 28/06/2011
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As indicated by A, the FBM KLCI successfully rebounded from the 14, 21, 31 EMA dynamic support, and breaking above the 1566 resistance, gaining 7.50 points to close at 1570.02 points. Although the break out was insignificant, the KLCI is set to test the next resistance at the 1576.95 historical new high.

As indicated by B, total market volume increased 18.67%, and also slightly above the 40-day Volume Moving Average. However, this is not significant, and the overall market participation is still low. Nevertheless, if volume should continue to increase, it will generally improve the market sentiment.

As indicated by C, the Stochastic stays above 70%, in the short term bullish territory. This shows that the short term movement of the KLCI is still bullish biased.

In conclusion, the technical outlook for the KLCI remains positive. If volume should continue to increase, the KLCI is expected to test the 1576.95 historical new high level, or even possibly resume its long term uptrend.

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