Finally FBMKLCI closed –8.8 points at 1396.97 (-0.63%) and it also closed below 1400 psychological level. The profit taking is considered heavy today on the lower liners and we need to watch out for the market to crash any time from now.
The overall market’s sentiment is considered as bearish biased, as there were 186 up counters and 585 down counters with the market total traded volume increased –2.4% 873 MIL shares. The trading volume is above the 40 days.
All the indicators indicate FBMKLCI still bullish biased. The STC started to hook down at 84. The RSI hooks down to 71 and the MACD is flat due to the correction. The Bollinger10 also closed at 0% due to the CI correction. The next possible FBMKLCI resistance level is 1414, the larger ascending wedge’s upper trend line. Whereas the nearest possible supports level is the smaller ascending wedge's upper trend line and the 23.6% FR at 1368.
The FKLI is up by –5.5 points to close at 1393.5. It is still bullish but be careful. If you wish to know long or short, please join as VK members. You may contact anyone of us to find out more details.
The FCPO Loss –24 points, closed at 2486. It is very bearish now. If you wish to know long or short, please join as VK members. You may contact anyone of us to find out more details.
