Market has progressed well but still vulnerable to external issue.
Most Asian stock markets were higher Monday amid growing optimism over progress in resolving Japan's nuclear crisis, while energy stocks benefited from higher oil and commodity prices on heightened geopolitical concerns in the Middle East and North Africa.
"We think a protracted Libyan civil war may be an economic non-event as Saudi will make up for (oil) supply shortfalls. More importantly, serious nuclear fallout in Japan looks increasingly unlikely with some power restored to plants, and fire engines having good success in keeping spent fuel rods cool," said Phillip Securities in a research note.
(WSJ)
At closing, China market gained 0.10%, Hong Kong 1.73%, Singapore 1.63% and Malaysia 0.33%. Japanese market closed for holiday.
FBMKLCI
FBMKLCI opened with a 5-point loss but swiftly returned to the black within an hour. The index accelerated higher in the afternoon session but ended off high at 1,508.88 (+4.99/0.33%). Total Volume was 1,195m (+207m), gainer 587 and loser 200. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment
Market sentiment picked up with volume increased significantly in the afternoon session. The Oscillator surged with no hesitation to end at its day-high at +1,030.14; gained 693.75 when compares with its starting point. The Average recorded a gain of 555.22.
Conclusion
Regional Market took a relief as risk from Japanese nuclear plants seemed was contained. Local sentiment also improved gradually with most low liners recovered from recent sell-down.
At the closing, FBMKLCI finished off high but precisely capped by the 30-day SMA. The fact that the index fell below the Middle Bollinger Band on opening is also a sign that external unrest is still a concern.
Based on charts, all indicators have crawled into the neutral zone and prepare to move further up. The next tough barrier of the index will be its 100-day SMA which is around 1,515 and immediate support is 1,502, the Middle Bollinger Band. (Chart extracted from ChartNexus)
On the other hand, %K Line (yellow) of MSCD recorded as -140.65 (+126.48), %D Line (red) -254.88 (+64.83) and the Histogram +26.82 (+21.85). Both indicators hooked sharply higher and broke through the resistance line of the downtrend channel. The Histogram printed a discerning positive bar.
Overall market sentiment continues to improving but sustainability remains under test as both indicators are soaking in the red. However, if D line can move higher than its previous high to form a higher-high then the reversal should be confirmed.
Market has progressed well but still vulnerable to external issue.
Most Asian stock markets were higher Monday amid growing optimism over progress in resolving Japan's nuclear crisis, while energy stocks benefited from higher oil and commodity prices on heightened geopolitical concerns in the Middle East and North Africa.
"We think a protracted Libyan civil war may be an economic non-event as Saudi will make up for (oil) supply shortfalls. More importantly, serious nuclear fallout in Japan looks increasingly unlikely with some power restored to plants, and fire engines having good success in keeping spent fuel rods cool," said Phillip Securities in a research note.
(WSJ)
At closing, China market gained 0.10%, Hong Kong 1.73%, Singapore 1.63% and Malaysia 0.33%. Japanese market closed for holiday.
FBMKLCI FBMKLCI opened with a 5-point loss but swiftly returned to the black within an hour. The index accelerated higher in the afternoon session but ended off high at 1,508.88 (+4.99/0.33%). Total Volume was 1,195m (+207m), gainer 587 and loser 200. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment Market sentiment picked up with volume increased significantly in the afternoon session. The Oscillator surged with no hesitation to end at its day-high at +1,030.14; gained 693.75 when compares with its starting point. The Average recorded a gain of 555.22.
Conclusion
Regional Market took a relief as risk from Japanese nuclear plants seemed was contained. Local sentiment also improved gradually with most low liners recovered from recent sell-down.
At the closing, FBMKLCI finished off high but precisely capped by the 30-day SMA. The fact that the index fell below the Middle Bollinger Band on opening is also a sign that external unrest is still a concern.
Based on charts, all indicators have crawled into the neutral zone and prepare to move further up. The next tough barrier of the index will be its 100-day SMA which is around 1,515 and immediate support is 1,502, the Middle Bollinger Band. (Chart extracted from ChartNexus) On the other hand, %K Line (yellow) of MSCD recorded as -140.65 (+126.48), %D Line (red) -254.88 (+64.83) and the Histogram +26.82 (+21.85). Both indicators hooked sharply higher and broke through the resistance line of the downtrend channel. The Histogram printed a discerning positive bar.
Overall market sentiment continues to improving but sustainability remains under test as both indicators are soaking in the red. However, if D line can move higher than its previous high to form a higher-high then the reversal should be confirmed. Market has progressed well but still vulnerable to external issue.
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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