FBMKLCI Chart & Summary (CIMB)

Late buying support helped the FBMKLCI into the black yesterday. However, it has yet to take out the 1,343 critical resistance level making yesterday a non-event day. A breakout above 1.343 would signal that the market is likely headed towards 1,360 next. If prices were to fall below the 1,320 support, then we are headed lower with the 1,305-1,307 gap the first destination. As the wave count does not look complete to the upside, we believe that there is a slight bias towards the upside.