FBMKLCI Chart & Summary (CIMB)

Prices tried to take out the short term downtrend channel resistance but failed. Prices remained below the 1,343 key resistance, suggesting that we cannot totally eliminate the short term bearish outlook. A move above 1,343 would confirm that it was only a correction and prices are heading higher above the 1,347 levels, likely towards 1,360 next. A break up or down from here would show us where the market is headed next. Key support is seen at 1,320 followed by the gap at 1,305-1,307. The trend line at 1,353 is the immediate resistance.