Technically, overall market sentiment has been hurt by today’s sudden slum of the index. Market confidence has receded to a lower level and will temporarily shrug off any positive move from the index.
Asian share markets were mostly lower Monday amid escalating unrest in the Middle East and an early surge in crude-oil prices.
Escalating turmoil in the Middle East hit several markets in the region, but many had managed to pare morning losses. Oil prices remained up after spiking in early trade amid reports of gunfire in the Libyan capital Tripoli and several quarters of the city. (WSJ)
On closing, Japanese market up by 0.14%, China 1.14% but Hong Kong down 0.47% and Singapore 0.53%.
At the local front, FBMKLCI opened with gains but tumbled about 12 points after half an hours trade due to Middle East unrest. However, the index managed to crawled back to above the neutral line in the remaining session to end off high at 1,525.85 (+8.29/0.55%). Total Volume was 1,841m (-343m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment though opened with enthusiasm but followed the index receded to negative tone shortly. The Oscillator soaked in the red and slipped deeper during the last hour trade to end at its day-low at -1,559.61; lost 1,903.91 when compares with its starting point. The Average recorded a loss of 1,058.94.
Conclusion
Today, the sudden slum of FBMKLCI created more skepticism on market’s recovery process. FBMKLCI though added about 8 points at the end of the day but remained below the Middle Bollinger Band. Based on charts, the forward movement of the index is still in doubts and there is possibility that the index might move sideways from now on. (Chart extracted from 188OMS)
In the MSCD, K% Line (yellow) recorded as -398.18 (-120.10), D% Line (red) -270.65 (-63.09) and the Histogram -97.11 (7.64).
After today’s trade, both key indicators hooked down and the Histogram printed a longer negative bar again. Technically, overall market sentiment has been hurt by the sudden slum of the index. Market confidence has receded to a lower level and will temporarily shrug off any positive move from the index.
Asian share markets were mostly lower Monday amid escalating unrest in the Middle East and an early surge in crude-oil prices.
Escalating turmoil in the Middle East hit several markets in the region, but many had managed to pare morning losses. Oil prices remained up after spiking in early trade amid reports of gunfire in the Libyan capital Tripoli and several quarters of the city. (WSJ)
On closing, Japanese market up by 0.14%, China 1.14% but Hong Kong down 0.47% and Singapore 0.53%.
At the local front, FBMKLCI opened with gains but tumbled about 12 points after half an hours trade due to Middle East unrest. However, the index managed to crawled back to above the neutral line in the remaining session to end off high at 1,525.85 (+8.29/0.55%). Total Volume was 1,841m (-343m). (FBMKLCI Chart extracted from Jupiter)Overall market sentiment though opened with enthusiasm but followed the index receded to negative tone shortly. The Oscillator soaked in the red and slipped deeper during the last hour trade to end at its day-low at -1,559.61; lost 1,903.91 when compares with its starting point. The Average recorded a loss of 1,058.94.
ConclusionToday, the sudden slum of FBMKLCI created more skepticism on market’s recovery process. FBMKLCI though added about 8 points at the end of the day but remained below the Middle Bollinger Band. Based on charts, the forward movement of the index is still in doubts and there is possibility that the index might move sideways from now on. (Chart extracted from 188OMS)
In the MSCD, K% Line (yellow) recorded as -398.18 (-120.10), D% Line (red) -270.65 (-63.09) and the Histogram -97.11 (7.64).After today’s trade, both key indicators hooked down and the Histogram printed a longer negative bar again. Technically, overall market sentiment has been hurt by the sudden slum of the index. Market confidence has receded to a lower level and will temporarily shrug off any positive move from the index.
Constructed and Written by Smartbiz (Click on chart to view)
(Note: You can read the explanation for Intra-Day MSO and MSCD from the achieves under heading "Labels" at the lower portion of the sidebar.)
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