Technically, overall market sentiment remains cautious though some pickings were seen motivated by gains in regional markets. Most investors still stayed sidelined.
Asian stock markets were mixed on Friday on relief after oil prices retreated from multi-year highs, though the Middle East crisis continued to keep most buyers at bay.
The turmoil in Libya and the uncertainty surrounding Moammar Gadhafi's hold on power continued to temper market sentiment. There was some relief among investors as oil prices retreated after assurance from the International Energy Agency that it is prepared to release its emergency oil stockpiles to cover any shortfalls resulting from the turmoil in the Middle East. (WSJ)
At closing, Japanese market up by 0.71%, Hong Kong 1.82%, Singapore 1.75% but China ended flat.
At the local front, FBMKLCI was lingering in the positive territory in the morning session but lost stream immediately after the break. The index slid and ended almost at par at 1,489.27 (-0.60 /0.04%). Total Volume was 1,390m (-613m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment was commendable amid global uncertainties. The Oscillator stayed in the positive area whole day to end at its day-high at -694.13; gained 120.80 when compares with its starting point. The Average recorded a gain of 459.99.
Conclusion
Today, FBMKLCI defied regional trend but ended flattish after capped by the 1,500 level. Based on charts, there are no vivid sign shows that market will be recovering soon. Supports remain at 1,489 and 1,474. Overhead resistance are 1,511 (100-day SMA) and 1,516, the Middle Bollinger Band. (Chart extracted from 188OMS)
In the MSCD, K% Line (yellow) recorded as -695.14 (+209.95), D% Line (red) -488.36 (+75.90) and the Histogram -197.41 (-2.34).
After today’s trade, both indicators hooked up slightly and the Histogram printed another negative bar almost parallels to the previous one. Technically, overall market sentiment remains cautious though some pickings were seen motivated by gains in regional markets. Most investors still stayed sidelined.
Constructed and Written by Smartbiz (Click on chart to view)
Asian stock markets were mixed on Friday on relief after oil prices retreated from multi-year highs, though the Middle East crisis continued to keep most buyers at bay.
The turmoil in Libya and the uncertainty surrounding Moammar Gadhafi's hold on power continued to temper market sentiment. There was some relief among investors as oil prices retreated after assurance from the International Energy Agency that it is prepared to release its emergency oil stockpiles to cover any shortfalls resulting from the turmoil in the Middle East. (WSJ)
At closing, Japanese market up by 0.71%, Hong Kong 1.82%, Singapore 1.75% but China ended flat.
At the local front, FBMKLCI was lingering in the positive territory in the morning session but lost stream immediately after the break. The index slid and ended almost at par at 1,489.27 (-0.60 /0.04%). Total Volume was 1,390m (-613m). (FBMKLCI Chart extracted from Jupiter)Overall market sentiment was commendable amid global uncertainties. The Oscillator stayed in the positive area whole day to end at its day-high at -694.13; gained 120.80 when compares with its starting point. The Average recorded a gain of 459.99.
ConclusionToday, FBMKLCI defied regional trend but ended flattish after capped by the 1,500 level. Based on charts, there are no vivid sign shows that market will be recovering soon. Supports remain at 1,489 and 1,474. Overhead resistance are 1,511 (100-day SMA) and 1,516, the Middle Bollinger Band. (Chart extracted from 188OMS)
In the MSCD, K% Line (yellow) recorded as -695.14 (+209.95), D% Line (red) -488.36 (+75.90) and the Histogram -197.41 (-2.34).After today’s trade, both indicators hooked up slightly and the Histogram printed another negative bar almost parallels to the previous one. Technically, overall market sentiment remains cautious though some pickings were seen motivated by gains in regional markets. Most investors still stayed sidelined.
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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