Today, market sentiment followed the key index fell deep into bearish mode with the intra-day Oscillator rolling downhill since the opening. The Oscillator ended at -1,771.29; lost 2,158.24 when compares with its starting point. The Average recorded a loss of 1,109.01.
At the end of the day, %K Line (yellow) of MSCD recorded as -15.42 (-198.76), %D Line (red) -2.33 (-88.57) and the Histogram +110.48 (-30.89). Both indicators fell sharply and K Line is slightly below D Line now. The Histogram printed another shorter bar.
After today’s trade, FBMKLCI charted yet another long black candlestick and finished slightly off its uptrend channel. Based on other indicators, the index is likely to move further down and test its next support at 1,533. The MSCD shows that overall market sentiment is about to reverse into bearish mode but waiting for confirmation. So long as both indicators can stay near the zero level and D Line forms a higher low, the reversal would be deemed as temporarily. However, investor sentiment has been hurt and trading will proceed with more cautiousness. Low-liners will continue to suffer from selling pressure.
Constructed and Written by Smartbiz (FBMKLCI Chart extracted from ChartNexus)
(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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