The FBMKLCI gained some momentum yesterday and prices narrowed the gap from the rising resistance channel. The bulls are trying to push above its previous swing high of 1,565.04 and if it succeeds, there is a good chance that it may push above the resistance trend line to test the all time high of 1,577 next. Otherwise, the bears will remain in command in the short term. A deeper correction will push prices lower towards the 50-day SMA at 1,518.
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