Composite Index 26/11/2009On Thursday, the FBM KLCI tested the Bollinger Middle Band, but failed, and ended 0.39 points lower. This shows that the Bollinger Middle Band is still the dynamic resistance for the KLCI, while the next resistance is still at 1300 psychological level. Support for the KLCI is at 1270 Automatic Fibonacci Retracement.
As indicated by A, the KLCI is still supported by the L1 uptrend line, and the 1270 Fibonacci Retracement is also over-lapping the L1 uptrend line, and therefore, it is going to be an important support. If the KLCI should break below the L1 uptrend line, it would be an end to the uptrend.
As indicated by B, total market volume increased 1.5%, with volume still below the 40-day VMA level. In short, this suggests that the market is relatively quiet, as the KLCI is now moving sideways.As circled at C, the stochastic breaks below 30% level, entering the short term bearish region. If the Stochastic should remain below 30% level, the market movement for the short term is expected to be bearish biased.
As shown on the chart above, the Bollinger Bands is now narrowing, and the significance of the Stochastic signal is reduced. Nonetheless, the short term signal of the Stochastic has to be confirmed with the re-expansion of the Bollinger Bands. If the KLCI should remain below the Bollinger Middle Band as the Bollinger Bands expand, it would be a downside signal, and otherwise, an upside signal.
综合指数 2009年 11月 26日富时综合指数微跌0.39点，综指虽然一度上探布林中频带（Bollinger Middle Bands），惟还是无功而返，综指精确的在布林中频带遇到阻力，所以布林中频带成为综指接下来的主要阻力，综指另一道的阻力水平维持在1300点的心理关口，支持水平则落在1270点的费氏线。
如图中箭头A所示，综指在L1线上获得扶持，由于这与1270点的费氏线重叠，所以综指预料将有望在此水平获得扶持，无论如何，接下来若综指跌破L1上升的趋势线，那综指的上扬趋势将有结束的可能。
如图中箭头B所示，马股成交量只稍微增加1.5%，所以成交量继续低于40天成交量移动平均线（VMA）的水平，这表示市场目前淡静，这是综指处于横摆巩固的缘故。
如图中C圈所示，随机指标（Stochastic）跌破了30%的水平，所以综指的短期走势有转为跌势的风险，接下来若随机指标短期内不能回弹重返30%以上的话，那综指的短期走势将形成一个下跌的趋势。如图所示，由于布林频带（Bollinger Bands）目前正处于一个窄小的格局，所以随机指标跌破30%带来的综指短期下跌讯号减弱，因为一切趋势的讯号都得等到布林频带再度打开时才能决定。通常当布林频带开始明显的打开时，若综指仍然处于布林中频带以下的话，那综指将被确认形成一个下跌的趋势，反之亦然。
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