Asian markets ended mostly lower, though mainland Chinese stocks defied the trend to edge higher, after data indicated that manufacturing growth in China had slowed, easing concerns of further monetary tightening.
Local sentiment continued to progress in bad mode with the intra-day Oscillator soaked deep in the red whole day. The oscillator finished at -599.33; lost 571.27 when compares with its starting point. The Average recorded a loss of 467.33.
At the end of the day, %K (yellow) of MSCD recorded as -116.39 (-63.78), %D (red) -68.63 (-31.91) and the Histogram -10.67 (-9.27). Both indicators fell slightly and the Histogram printed yet another negative bar.MSCD shows that market sentiment remains in bad mode and deteriorating. Traders have mostly stepped aside whilst fund manager went for protective counters such as Nestle, F&N and Panamy. This is indication that market will be more volatile and vulnerable to external effect.
FBMKLCI
FBMKLCI printed yet another black Doji and finished below the Middle Bollinger Band, today. The index has found a temporary support at 1,529 but is vulnerable. Breaking which will see the index moves downwards to test the 1,520 support 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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