FBM KLCI KEY POINTS1. The FBM KLCI closed at 1385.51 points, gaining 7.04 points.
Resistance for the KLCI is at 1400 level while the support is at 1340.63 and 1354 Fibonacci Retracement.
2. The Bollinger Bands continued to widen, expanding 36%, with the KLCI above the Bollinger Middle Band, thus the bullish movement of the KLCI is expected to continued.
3. Total market volume declined 10.3%, but still firmly above the 40-days Volume Moving Average level - suggesting that the market is still actively participated, as the overall market sentiment is still positive.
4. The Stochastic stays above 70%, thus the short term bullish remains intact, and the short term movement of the KLCI is still bullish biased.
IN A NUTSHELL
General technical readings of the FBM KLCI daily chart is still positive with some over-heated conditions. Provided that the KLCI is still supported by the 14, 21, 31 EMA, the uptrend shall remain intact. A lower daily traded volume is the 1st sign of a weakening trend.
HAPPY TRADING
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