Technically, overall market sentiment has succumbed to the continuous disturbance from external factors and most investors started to unload their holdings and opt to sideline. This is evident by the higher volume and lower prices.
Asian stock markets were mostly lower Thursday, with sentiment weakened by the Libyan crisis and by losses on Wall Street.
There were no signs of any cooling of tensions in Libya as its leader Moammar Gadhafi's forces opened fire on protesters in the capital Tripoli. Opposition groups said they have taken control over the city of Misrata, which lies closer to the capital than any of the cities in the eastern part of the country where resistance to the regime is strongest.
The Libyan unrest continued to drive oil prices higher, prompting concerns that the economic recoveries in the U.S. and Europe could get derailed, and potentially hurt Asian growth. (WSJ)
At closing, Japanese market down by 1.19%, Hong Kong down 0.94%, Singapore 0.94% but China edged up 0.58%.
At the local front, FBMKLCI managed to crawl nearer to the neutral line in the morning session but fell deeper after the break. The index plummeted about 5 points just minutes before closing to end at its day-low at 1,489.87 (-21.24 /1.41%). Total Volume was 2,003m (-47m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment staged the worst performance today with the Oscillator slid all the way down by more than 3,300 points and ended at its day-low at -3,335.65; lost 2,477.30 when compares with its starting point. The Average recorded a loss of 2,014.91.
Conclusion
Today, FBMKLCI failed to resist the broad selling pressure in most regional markets and fell below the 1,500 level. The fracture of the 1,500 level confirmed the losing streaks of the index and will see it moving further down. Its initial support is actually today’s closing figure -1,489 and then 1,474. Its overhead resistance are 1,510 (100-day SMA) and 1,518, the Middle Bollinger Band. (Chart extracted from 188OMS)
In the MSCD, K% Line (yellow) recorded as -905.09 (-201.71), D% Line (red) -564.26 (-116.10) and the Histogram -195.06 (-36.44).
After today’s trade, both indicators free fall and the Histogram printed another longer negative bar. Technically, overall market sentiment has succumbed to the continuous disturbance from external factors and most investors started to unload their holdings and opt to sideline. This is evident by the higher volume and lower prices.
Constructed and Written by Smartbiz (Click on chart to view)
Asian stock markets were mostly lower Thursday, with sentiment weakened by the Libyan crisis and by losses on Wall Street.
There were no signs of any cooling of tensions in Libya as its leader Moammar Gadhafi's forces opened fire on protesters in the capital Tripoli. Opposition groups said they have taken control over the city of Misrata, which lies closer to the capital than any of the cities in the eastern part of the country where resistance to the regime is strongest.
The Libyan unrest continued to drive oil prices higher, prompting concerns that the economic recoveries in the U.S. and Europe could get derailed, and potentially hurt Asian growth. (WSJ)
At closing, Japanese market down by 1.19%, Hong Kong down 0.94%, Singapore 0.94% but China edged up 0.58%.
At the local front, FBMKLCI managed to crawl nearer to the neutral line in the morning session but fell deeper after the break. The index plummeted about 5 points just minutes before closing to end at its day-low at 1,489.87 (-21.24 /1.41%). Total Volume was 2,003m (-47m). (FBMKLCI Chart extracted from Jupiter)Overall market sentiment staged the worst performance today with the Oscillator slid all the way down by more than 3,300 points and ended at its day-low at -3,335.65; lost 2,477.30 when compares with its starting point. The Average recorded a loss of 2,014.91.
ConclusionToday, FBMKLCI failed to resist the broad selling pressure in most regional markets and fell below the 1,500 level. The fracture of the 1,500 level confirmed the losing streaks of the index and will see it moving further down. Its initial support is actually today’s closing figure -1,489 and then 1,474. Its overhead resistance are 1,510 (100-day SMA) and 1,518, the Middle Bollinger Band. (Chart extracted from 188OMS)
In the MSCD, K% Line (yellow) recorded as -905.09 (-201.71), D% Line (red) -564.26 (-116.10) and the Histogram -195.06 (-36.44).After today’s trade, both indicators free fall and the Histogram printed another longer negative bar. Technically, overall market sentiment has succumbed to the continuous disturbance from external factors and most investors started to unload their holdings and opt to sideline. This is evident by the higher volume and lower prices.
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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