Major Asian markets mostly fell, with shares in Sydney dragged lower by worries that a strong Australian dollar would dent corporate earnings, while weak results from Samsung Electronics held back stocks in Seoul.
Local sentiment started in weaker notes and progressed in pessimism as the key index soaked in the red shortly after opening. The intra-day Oscillator slid but bounced to end at -108.27; lost 221.86 when compares with its starting point. The Average recorded a loss of 157.55.At the end of the day, %K (yellow) of MSCD recorded as -52.61 (-19.07), %D (red) -36.72 (-9.67) and the Histogram -1.40 (-3.62). Both indicators fell slightly and the Histogram printed its first negative bar.
MSCD shows that market sentiment remains soft. Low-liners will continue to face selling pressure and blue-chips turn cautious after FBMKLCI failed to break through its all time resistance around 1,540.
FBMKLCI FBMKLCI capped by its all time resistance around 1,540 today and formed a bearish “Hammer”. It is a bad sign that a black “Hammer” should appear in an uptrend pattern. The fact that the index finished slightly below the Middle Bollinger Band is also a shortfall in an uptrend movement.The index will be most likely moving sideways again.
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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