Technically, overall market sentiment has reversed to a bullish mode but remains unstable as both indicators are still soaked deep in the red. Overall participation is scarce when compares with that in two weeks ago. The Middle East unrest is still playing an important role.
Asian stock markets posted solid gains Friday, cheered by Wall Street's charge higher and a retreat in oil prices Thursday, while Japanese exporters' shares rose on the yen's weakness.
Still, a run toward the $105-$107 per barrel area over the next few weeks is possible, said Jim Ritterbusch, president of oil trading advisory firm Ritterbusch & Associates.
"We still view the Libyan situation as far from being defined or resolved; and civil discontent in other Middle East and North Africa countries will remain deserving of a sizable security premium," he said. (WSJ)
At closing, Japanese market gained 1.02%, China 1.35%, Hong Kong 1.24% and Singapore 0.79%.
At the local front, FBMKLCI jumped 21 points on opening but gave back about 10 points in less than one hour trade. The index was then hovering in tight range but ended higher at 1,522.61 (+15.73/1.04%). Total Volume was 1,125m (+60m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment started in high notes but slowed down gradually. However, sentiment picked up in the afternoon with the Oscillator surged and ended at its day-high at +1,319.22; gained 116.20 when compares with its starting point. The Average recorded a gain of 1,017.66.
Conclusion
Today, FBMKLCI was boosted by robust regional markets ended above the Middle Bollinger Band but capped by its 50-day SMA around 1,529.
Based on charts, the index is confirmed being in its initial upside trajectory. Its upside resistances are 1,529 and then 1,534. Downside support are 1,513 (100-day SMA) and 1,500. (Chart extracted from ChartNexus)
In the MSCD, K% Line (yellow) recorded as -371.38 (+252.46), D% Line (red) -398.43 (+113.33) and the Histogram -137.51 (+41.14).
After today’s trade, %K surged and cut %D from underneath. The Histogram printed a shorter negative bar and a round bottoming was formed. Technically, overall market sentiment has reversed to a bullish mode but remains unstable as both indicators are still soaked deep in the red. Overall participation is scarce when compares with that in two weeks ago. The Middle East unrest is still playing an important role.
Asian stock markets posted solid gains Friday, cheered by Wall Street's charge higher and a retreat in oil prices Thursday, while Japanese exporters' shares rose on the yen's weakness.
Still, a run toward the $105-$107 per barrel area over the next few weeks is possible, said Jim Ritterbusch, president of oil trading advisory firm Ritterbusch & Associates.
"We still view the Libyan situation as far from being defined or resolved; and civil discontent in other Middle East and North Africa countries will remain deserving of a sizable security premium," he said. (WSJ)
At closing, Japanese market gained 1.02%, China 1.35%, Hong Kong 1.24% and Singapore 0.79%.
At the local front, FBMKLCI jumped 21 points on opening but gave back about 10 points in less than one hour trade. The index was then hovering in tight range but ended higher at 1,522.61 (+15.73/1.04%). Total Volume was 1,125m (+60m). (FBMKLCI Chart extracted from Jupiter)Overall market sentiment started in high notes but slowed down gradually. However, sentiment picked up in the afternoon with the Oscillator surged and ended at its day-high at +1,319.22; gained 116.20 when compares with its starting point. The Average recorded a gain of 1,017.66.
ConclusionToday, FBMKLCI was boosted by robust regional markets ended above the Middle Bollinger Band but capped by its 50-day SMA around 1,529.
Based on charts, the index is confirmed being in its initial upside trajectory. Its upside resistances are 1,529 and then 1,534. Downside support are 1,513 (100-day SMA) and 1,500. (Chart extracted from ChartNexus)
In the MSCD, K% Line (yellow) recorded as -371.38 (+252.46), D% Line (red) -398.43 (+113.33) and the Histogram -137.51 (+41.14).After today’s trade, %K surged and cut %D from underneath. The Histogram printed a shorter negative bar and a round bottoming was formed. Technically, overall market sentiment has reversed to a bullish mode but remains unstable as both indicators are still soaked deep in the red. Overall participation is scarce when compares with that in two weeks ago. The Middle East unrest is still playing an important role.
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.)
2 comments:
I love your every analysis...no individual stocks analysis?
maun, thanks for your support.
I kept most of the stock analysis to myself as I am still not sure of my analysis. I feel guilty when my analysis didn't realize.
I think it will not be too long to see my stock analysis.
Thank you.
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