Conclusion: Finally, the key Indicator of MSO Chart fell and pierced through both of its gauges, 20-Days Average and 50-Days Average, to confirm its downswing. This confirmed that market sentiment was fast cooling off from its best day on January 3. The weaker sentiment was also evident by the shrinking volumes. On January 3, the recorded volume was 854 mln shares but gradually reduced to today’s 574 mln shares.
Meantime, the Indicator is closer to the bottom line of the uptrend channel. Based on pass performance, the Indicator will rebound along this line. Market should be supported by the Kuala Trengganu by-election.
KLCI, which was supported by government-linked counters, continued to outperform its Asian peers added 4.5 points or 0.49% to end at 923.57.
At about 2200, report shows both US Future and Stocks of Europe traded lower. Oil also dropped below US$40.
KLCI, which was supported by government-linked counters, continued to outperform its Asian peers added 4.5 points or 0.49% to end at 923.57.
At about 2200, report shows both US Future and Stocks of Europe traded lower. Oil also dropped below US$40.
(Click to enlarge)
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