Asian stock markets were mostly higher Wednesday, the positive result for Papandreou raised expectations that the Greek parliament would pass fresh budget cuts by the end of the month, which European Union officials are insisting as a condition of granting further aid to the debt-stricken country.
Local sentiment progressed in low tone with the Intra-day Oscillator soaked in the red whole day. But last minute buying pulled the Oscillator to end at its high at -49.23; gained 95.24 when compares with its starting point. The Average recorded a loss of 180.70.
At the end of the day, %K (yellow) of MSCD recorded as -230.04 (+8.97), %D (red) -193.20 (+1.00) and the Histogram -18.55 (-4.57). Both indicators rebounded but the Histogram printed yet another longer negative bar.
MSCD shows that overall market sentiment hasn’t had any significant movement but lingering in tight range. Market is waiting for the key index to prove its strength.
FBMKLCI
FBMKLCI rebounded before touching the 30MA and finished at 1,567; above its all-time resistance - 1,566. As the rebound was clearly a last minute manipulation the sustainability is in doubts. The support remains at the 30MA 1,557.
FBMSCAP staged a mild rebound but below yesterday’s opening. The index will remain in weakness until it breaks though the first barrier, the 12EMA.
FBMACE continued to be pressed by selling pressure today but rebounded at its support 4,177 again. So long as the index remains below the 20MA, ACE counters will be under pressure.
Local sentiment progressed in low tone with the Intra-day Oscillator soaked in the red whole day. But last minute buying pulled the Oscillator to end at its high at -49.23; gained 95.24 when compares with its starting point. The Average recorded a loss of 180.70.
At the end of the day, %K (yellow) of MSCD recorded as -230.04 (+8.97), %D (red) -193.20 (+1.00) and the Histogram -18.55 (-4.57). Both indicators rebounded but the Histogram printed yet another longer negative bar.MSCD shows that overall market sentiment hasn’t had any significant movement but lingering in tight range. Market is waiting for the key index to prove its strength.
FBMKLCI
FBMKLCI rebounded before touching the 30MA and finished at 1,567; above its all-time resistance - 1,566. As the rebound was clearly a last minute manipulation the sustainability is in doubts. The support remains at the 30MA 1,557. FBMSCAP staged a mild rebound but below yesterday’s opening. The index will remain in weakness until it breaks though the first barrier, the 12EMA.
FBMACE continued to be pressed by selling pressure today but rebounded at its support 4,177 again. So long as the index remains below the 20MA, ACE counters will be under 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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