Translate This Page

Wednesday, February 16, 2011

FBMKLCI Chart & Summary (CIMB)

The FBMKLCI bounced back above the 1,500 psychological mark on Monday. However, it remains to be seen whether the market has the sustaining power to stay above this level. With the candles still trading below its moving averages, both 30-day and 50-day SMAs, we think sustainability is a concern. Again, we think trading could be choppy. The 1,475 support trend line is the first defence while next downside target is seen at 1,445. On the flip side, resistance is seen at 1,526-1,534.

No comments: