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Wednesday, December 1, 2010

Technical Analysis : 综合指数 2010年12月01日/FBMKLCI 01/12/2010

综合指数 2010年 12月 01日

如图所示,布林频带(Bollinger Bands)打开的幅度减少至6%,所以综指避开进一步的转弱,惟综指目前仍然处于布林中频带以下,所以综指仍然属于弱势中,直到综指上扬突破布林中频带为止。




FBM KLCI 01 December 2010
As indicated by A, the FBM KLCI attempt to rebound on Wednesday, but it is resisted by the 1487 WinChart Automatic Fibonacci Retracement, which is the immediate resistance. At the close, the KLCI gained 0.19 of a point at 1485.42. Support for the KLCI is at 1460 and the resistance are found at 1487 followed by 1500.

Meanwhile, the Bollinger Bands only expanded 6%, and if the Bollinger Bands should begin to contract, the KLCI would consolidate further, without forming a downtrend yet. However, immediate technical outlook shall remains on the negative side until the KLCI could break above the Bollinger Middle Band.

As indicated by B, total market volume fell 12.75%, with volume staying below the 40-day volume moving average. This shows that the market confidence is relatively low, and it is normal for the direction of the KLCI is unclear now.

As indicated by C, the Stochastic is testing 30%, and since it has not fallen below 30%, it is not showing a short term bearish signal yet. Generally, if the Stochastic should stay around 50%, the KLCI is likely to move sideways for the short term.

With the KLCI staying below the Bollinger Middle Band, as well as the 14, 21, 31 EMA, technical outlook for the KLCI is on the lower side. Fortunately, the downside movement of the KLCI was insignificant, thus the KLCI not yet forming a downtrend.

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