At the local front, FBM KLCI moved higher in the afternoon session to close at 1,173.66 gained 5.65 or 0.48%. Total Volume increased by 69 mln to 588 mln.
Market sentiment responded to the gain of KLCI in positive tone with the Oscillator edged higher and higher and ended at its high at +405.49 gained 232.37 from the starting point. The Average recorded a gain of 242.96.
The Key Indicator (Blue) of the Daily MSO Chart hooked up but remained in red at -153.90 gained 38.85. MS20 edged higher to -64.89 but MS50 hooked down to +64.41.
Though today’s market sheds some hopes for recovery but uncertainty remains.
Tonight, US market might follow Chinese market higher but sustainability is doubtful.
In the MSO, both MS5 and MS20 are still in red, as such, market base remains weak and vulnerable to external impact. Reversal can only be confirmed after MS5 cut MS20 decisively from underneath. (Constructed and Shared by Smartbiz)
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