TECHNICAL ANALYSIS >>> Composite Index 07/09/2009 / 综合指数 2009年 9月 07日

Composite Index 07/09/2009
On Monday, the Bollinger Bands Width expanded 38%, with the FBM KLCI above the Bollinger Middle Band, and as a result, the KLCI gained 11.65 points or 1%, closing at 1190.39 points. As indicated by A, the KLCI broke above the 1186 resistance, and therefore, the immediate support for the KLCI is at 1186 Fibonacci Retracement, while the 1200 point is the psychological resistance level.

Based on the Bollinger Bands signal, the KLCI immediate outlook is bullish biased. Therefore, if the Bollinger Bands Width should continue to expand with the KLCI above the Bollinger Middle Band, the KLCI bullish movement is likely to continue, until the Bollinger Bands expansion rate is reduced or the band width contracts.

As indicated by B, total market volume increased 16.3%. Although it is still below the 40-day VMA level, it is volume is getting closer to the 40-day VMA level, thus suggesting an improvement in the market participation. If the market volume should reach the 40-day VMA level, it would be a positive element for which to help the KLCI to sustain its positive movement.

As circled at C, the Stochastic is still rising above the 70% level, suggesting that the KLCI short term movement is still bullish biased. Provided that the Stochastic could maintain above 70% level, the short term bullishness is expected to continue.

After being supported by the 14, 21, 31 EMA, the KLCI is likely to resume its uptrend as the Bollinger Bands Width re-expand with the KLCI above the Bollinger Middle Band, as this is the breaking point mentioned on last Friday's analysis. In short, the immediate outlook for the KLCI is bullish biased, until the Bollinger Bands contracts
综合指数 2009年 9月 07日
布林频带（Bollinger Bands）在周一打开38%，而富时综合指数始终处于布林中频带（Bollinger Middle Band）以上，所以综指上扬11.65点或1%，以1190.39点闭市。如图箭头A所示，综指上扬突破了1186点的费氏线阻力水平，所以1186点成为综指当前的支持水平，阻力水平则是1200点的心理阻力水平
。
以布林频带刚开始打开的情形来看，综指目前正处于一个上扬趋势的开端，所以接下来只要布林频带持续的打开，而综指又能成功的维持在布林中频带以上，综指将有望继续上扬，直到布林频带开始打开的幅度开始减低为止。

如图中箭头B所示，马股成交量增加16.3%，虽然还是处于40天成交量移动平均线（VMA）以下，不过成交量开始接近40天的平均交易量，这有助于综指继续转强。若成交量接下来能达到40天平均值的话，综指将有望在获得成交量的确认下形成一轮新的涨势。

随机指标（Stochastic）进一步在70%以上上扬，所以综指的短期趋势继续走高；通常综指将继续维持短期上扬格局，直到随机指标跌破70%为止。

综指继续获得14、21、31天加权移动平均线（EMA）以及布林中频带的扶持，所以在布林频带打开的第一时间内，综指就开始上扬了；这也是上周五提到综指已经处于一个临界点（Breaking Point），只等待布林频带打开的讯号的信息。技术上，综指将继续处于上扬的格局，直到布林频带打开的幅度减低为止。