Asian stock markets were mixed Thursday, with Tokyo shares recovering from a down morning session, while the Singapore dollar briefly hit a record high against its U.S. counterpart after Singapore's central bank tightened monetary policy.
Local sentiment dragged by political uncertainties in Sarawak was lackadaisical in the whole session. The intra-day Oscillator slid to end at its day-low at -1,026.18; lost 516.90 when compares with its starting point. The Average recorded a loss of 711.59.
At the end of the day, %K Line (yellow) of MSCD recorded as -143.46 (-103.26), %D Line (red) -72.35 (-51.16) and the Histogram +28.94 (-25.01). Both indicators hooked down and the Histogram printed yet another shorter bar.
The MSCD shows that overall market sentiment remains in weaknesses warrants for more downside movement. Low-liners were discarded from investor’s portfolio as total volume shrunk to below 1 billion shares. Since the “Invest Malaysia” fails to boost the market, investor will look forward to the result of the Sarawak Election on Sunday.
FBMKLCI
FBMKLCI charted yet another bearish candle and temporarily formed a higher low. The low needs to be confirmed by a new high which hasn’t appeared yet. But the chart pattern has formed a new uptrend channel to serve as a temporary trend indication. If the forthcoming candles can stay within this channel then market will have a fast reversal. If the forthcoming candles fell off from the channel, then we will see the index testing the 1,474 level again. This is true as market is now dominated by the Sarawak Election which is full of a lot of uncertainties. Meantime, all other indicators also pointed to a bearish scenario.
Local sentiment dragged by political uncertainties in Sarawak was lackadaisical in the whole session. The intra-day Oscillator slid to end at its day-low at -1,026.18; lost 516.90 when compares with its starting point. The Average recorded a loss of 711.59.
At the end of the day, %K Line (yellow) of MSCD recorded as -143.46 (-103.26), %D Line (red) -72.35 (-51.16) and the Histogram +28.94 (-25.01). Both indicators hooked down and the Histogram printed yet another shorter bar.The MSCD shows that overall market sentiment remains in weaknesses warrants for more downside movement. Low-liners were discarded from investor’s portfolio as total volume shrunk to below 1 billion shares. Since the “Invest Malaysia” fails to boost the market, investor will look forward to the result of the Sarawak Election on Sunday.
FBMKLCI
FBMKLCI charted yet another bearish candle and temporarily formed a higher low. The low needs to be confirmed by a new high which hasn’t appeared yet. But the chart pattern has formed a new uptrend channel to serve as a temporary trend indication. If the forthcoming candles can stay within this channel then market will have a fast reversal. If the forthcoming candles fell off from the channel, then we will see the index testing the 1,474 level again. This is true as market is now dominated by the Sarawak Election which is full of a lot of uncertainties. Meantime, all other indicators also pointed to a bearish scenario.
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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