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Monday, November 15, 2010

Technical Analysis : 综合指数 2010年11月15日/FBMKLCI 15/11/2010

综合指数 2010年 11月 15日

如图所示,布林频带(Bollinger Bands)收窄3%,这显示综指目前正处于一个调整的格局,一般上若布林频带继续收窄,综指将继续横摆巩固,直到布林频带重新打开为止。




FBM KLCI 15 November 2010
As indicated by A, the FBM KLCI was traded in a narrow range on Monday, gaining 1.75 points to close at 1501.56 points. Since the KLCI managed to stay above 1500 mark, the 1500 is now the immediate support for the KLCI while the 1525 to 1532 is the resistance.

As shown on the chart above, the Bollinger Bands contracted 3%, and this suggests that the KLCI is still consolidating, and the consolidation is expected to carry on until the re-expansion of the Bollinger Bands.

As indicated by B, total market volume fell 36.98 %, with volume below the 40-day volume moving average. Usually, when the market is consolidating or when the direction is uncertain, trading volume will generally decline. But if volume should continue to stay low, the KLCI is less likely to pick up its strength.

As indicated by C, the Stochastic rebounded at 30%, and this means that the Stochastic does not trigger a short term bearish signal, and the short term movement for the KLCI is now still neutral.

In conclusion, the KLCI rebounded on Monday, and returned to above 1500 level, and with the Bollinger Bands contracting, the KLCI is expected to consolidate from here
, and the consolidation shall carry on until the Bollinger Bands should re-expand.

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