TECHNICAL ANALYSIS >> 综合指数 2010年 04月 23日 / Composite Index 23/04/2010

综合指数 2010年 04月 23日
富时综合指数微跌0.23点，以1336.78点闭市，基本上仍然横摆巩固，综指当前的支持水平仍然是1334点的费氏线，阻力水平则是1347.61点的费氏线。

如图所示，布林频带（Bollinger Bands）收窄的幅度为0%，这表示布林频带已经停止收窄，若布林频带接下来开始明显的打开，而综指又能继续处于布林中频带（Bollinger Middle Band）以上，那综指将有望重新恢复上扬的趋势，直到布林频带打开的幅度开始减低为止。

如图中箭头B所示，马股成交量减少1.9%，所以成交量仍然未能达到40天成交量移动平均线（VMA）的水平，显示市场交投稍微淡静，这是成交量在综指横摆巩固时的典型状态。

如图中C圈所示，随机指标（Stochastic）未能成功突破70%的水平，这表示综指的短期走势仍然未能确认出现上扬的趋势，继续维持横摆巩固，无论如何，接下来若随机指标能上扬突破70%，这将是综指的短期走势开始上扬的讯号。

总的来说，综指目前仍然维持横摆巩固的格局，惟布林频带已经停止收窄，而综指则已经处于布林中频带以上，所以接下来只要布林频带开始打开，那综指将有望开始新一轮的的涨势，有望上探并突破1347.61点的阻力。

Composite Index 23/04/2010
On Friday, the KLCI closed 0.23 of a points lower at 1336.78 points, and remain in its low volatility consolidation. Support for the KLCI remains at 1334 Fibonacci Retracement while the immediate resistance is at 1347.61 Automatic Fibonacci Retracement.

As shown on the chart, the Bollinger Bands contracted 0%, indicating that the consolidation of the KLCI might be coming to an end, if and when the Bollinger Bands should re-expand, it would be an end to the consolidation and the beginning of a new movement.

As indicated by B, total market volume fell 1.9%, with volume still below the 40-day VMA level. Therefore, the market is relatively quiet, as investors chose to stay on the sidelines while the KLCI consolidates.

As circled at C, the Stochastic failed to break above 70% level, and therefore, it has not signaled any short term bullishness for the KLCI yet, and the consolidation of the KLCI continues.

In conclusion, the KLCI has not broken away form its narrow consolidation but fortunately, the last candle is now above the Bollinger Middle Band, thus the immediate technical outlook is slightly on the positive side.

Monitor the Daily Bollinger Bands & Stochatics co-relativity

A spike in volume will reaffirm any bullish build-ups should prices remain above Mid BB

An expansion of the Bollinger Bands with some added volume will confirm the trend upthrust

Goodluck & Happy Trading