FBM KLCI
2012-04-18e

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As indicated by A, the KLCI was still consolidating at a narrow range, while staying above the 14, 21, 31 EMA dynamic support. The KLCI gained 2.67 points or 0.17%, to close at 1598.86 points. Resistance stays at 1600-1609.33.

As indicated by B, total market volume increased 2.67%, with volume above the 40-day Volume Moving Average. Technically, if the market participation could continue to improve, there is a better chance for the KLCI to break its resistance.

As indicated by C, the Stochastic stays around 50%, thus suggesting that the short-term movement of the KLCI is still at its sideways consolidation mood.

Although some improvement in the overall market participation, though not significant, the KLCI remains in its narrow range consolidation. Fortunately, the KLCI managed to stay above the 14, 21, 31 EMA dynamic support, which means that the KLCI uptrend is still intact. Nevertheless, the KLCI would have to break above its new high resistance, with strong volume, in order to extend this uptrend.

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