Asian markets were mixed today with both Hong Kong and Singapore markets down slightly but Japan gained 2.99% on optimism of its Stimulus Plan.
Today, KLCI edged slowly higher to end at its high at 884.18 gained 11.63. Dealer said the upswing might be motivated by the smooth transfer of the premier post. The Index broke its overhead resistance 880 and now heading to the 900 psychological block.
But, HwangDBS Vickers Research said, “On the home front, our take is that the KLCI remains weak technically speaking. We expect the benchmark index to dingdong on a negative bias, possibly sliding towards its first support level of 860 ahead.”
The Key Indicator (Blue) of the Daily MSO Chart turns bullish and exactly bounces back when it touches the 20-Days Average. The Indicator added 27.14 pts to +17.07 after today’s trade. Save from falling below the 20-Days Average, market sentiment has proven its resilience and this might due to market saying: “The Najib Effect”. (Click on Chart to view)
Today, KLCI edged slowly higher to end at its high at 884.18 gained 11.63. Dealer said the upswing might be motivated by the smooth transfer of the premier post. The Index broke its overhead resistance 880 and now heading to the 900 psychological block.
But, HwangDBS Vickers Research said, “On the home front, our take is that the KLCI remains weak technically speaking. We expect the benchmark index to dingdong on a negative bias, possibly sliding towards its first support level of 860 ahead.”
The Key Indicator (Blue) of the Daily MSO Chart turns bullish and exactly bounces back when it touches the 20-Days Average. The Indicator added 27.14 pts to +17.07 after today’s trade. Save from falling below the 20-Days Average, market sentiment has proven its resilience and this might due to market saying: “The Najib Effect”. (Click on Chart to view)
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