At the local front, FBM KLCI recorded yet another new high but failed to sustain and ended almost flat at 1,188.57 gained 2.38. Total Volume decreased by 88 mln shares to 1,050 mln shares.
Market enthusiasm faded fast with the Oscillator opened high and ended in red at -312.50 lost 673.27 from the starting. The Average recorded a loss of 101.46.
The Key Indicator (Blue) of the Daily MSO Chart edged up slightly to +164.90 gained 26.80. MS20 curved up but MS50 faced down.
Market lost confidence even though KLCI recorded a new high and stayed in positive zone whole day. Selling prevailed after seeing KLCI sliding from its dizzy high.
MSO remained in unstable situation with MS50 sliding gradually to the neutral zone. Market will continue to be erratic until MS50 lifts its face up decisively and MS20 returns to its uptrend position. (Constructed and Shared by Smartbiz)
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