TECHNICAL ANALYSIS >>> Composite Index 12/04/2010 / 综合指数 2010年 04月 12日

Composite Index 12/04/2010
The KLCI rebounded on Monday, after being supported by the Bollinger Middle Band, and the KLCI gained 5.63 points to close at 1339.61 points. As indicated by A, the KLCI tested the L1 resistance line again, and the L1 line remains as the immediate resistance to the KLCI.

For the mean time, the Bollinger Middle Band and the 1334 Fibonacci Retracement are the support for the KLCI, and the resistance is seen at 1348 and 1354 Fibonacci Retracement. Meanwhile, the Bollinger Bands contracted 10%, suggesting that the KLCI is still consolidating, and the consolidation shall continue until the Bollinger Bands re-expands.

As indicated by B, total market volume declined 11.8%, but still above the 40-day VMA level. Therefore, the market as a whole is still actively participated, and it is believed that the overall market sentiment is still positive.

As indicated by C, the Stochastic returned to 70%, re-entering the short term bullish territory. If the Stochastic could remain above 70%, the market movement for the short term is expected to be positive.

In conclusion, the KLCI is still supported by the Bollinger Middle Band, thus technically, the immediate outlook is still positive.

综合指数 2010年 04月 12日
富时综合指数自在布林中频带（Bollinger Middle Band）获得扶持后，综指进一步上扬5.63点，以1339.61点闭市。如图中箭头A所示，综指一度上扬至1344.12点，惟这是L1的上升趋势阻力线，所以综指精确的在此线上遇到阻力，综指随后回软，收窄涨幅。

综指当前的支持线依然是布林中频带，以及1334点的费氏线，阻力水平则是1348点及1354点的费氏线。如图所示，布林频带（Bollinger Bands）收窄10%，这表示综指目前仍然属于一个横摆巩固的格局，一般上，综指将维持此巩固走势，直到布林频带再度明显的打开为止。

如图中箭头B所示，马股成交量稍微下调11.8%，无论如何成交量仍然成功的保持在40天成交量移动平均线（VMA）以上，这是整体市场仍然相当活跃的讯号，通常这对综指维持转强的趋势是有利的。

如图中箭头C所示，随机指标（Stochastic）重新上扬至70%以上，这表示综指的短期走势重新回到上扬的格局（技术反弹），接下来只要随机指标能继续的维持在70%以上，那综指的短期走势将有望继续的转强，直到随机指标跌破70%为止。

总的来说，综指成功的在布林中频带获得扶持，以技术而言，接下来若布林频带开始打开，那综指将有望再度形成上扬的趋势，上探1354点的阻力水平。