Winchart Technical Analysis -
Daily Market analysis
| Learn Technical Analysis and get your credit hours at the same time. WinChart Technical Analysis Training is Accredited by: | |||
 |
 |
||
On Friday, the 2nd board index closed at its daily high of 107.39 points, up 0.98 of a point. As indicated by A, the 14, 21, 31 EMA continue serving as the dynamic support for the 2nd board index, and therefore, provided that the 2nd board index is still supported by the rising dynamic support, the outlook shall remains bullish biased. The 2nd board index is likely to test the 108.49 Fibonacci Retracement resistance.
As indicated by B, volume for the 2nd board market increased significantly on Friday while remains above the 40-day VMA level. This shows an increase of fresh capital inflow, thus would help to sustain the improving market sentiment.
As indicated by C, the MACD line breaks above the zero level for the first time since 7th of August. This suggests an improvement in the longer trend, and therefore, if the MACD line should remains rising, the trend for the 2nd board index shall remains upside biased. Nevertheless, the MACD histogram has not shown a sign of a rounding top. If the MACD histogram should form a rounding top, it would be a short term correction or consolidation signal for the 2nd board index.
Find this analysis useful? Why not share it with others? Click Here to send this to a friend
 1st Online Training In Malaysia |
 |
 |
 |
| View the Online Training | More Market Analysis | Find out more about WinChart | Upcoming Events |
Straits Index (M)
Sdn Bhd
No. 16, Jalan LP 1A / 5, Lestari Perdana,
43300 Seri Kembangan, Selangor
Hotline: (03) 8941 6828 (5 lines) Fax: (03) 8941
9828
Email: info@straitsindex.com
© Copyright 1997-2007 Straits Index (M) Sdn Bhd All
rights reserved