Local sentiment couldn’t hold its position but sang in negative tone after two hours trade. The intra-day Oscillator soaked in the red most of the time but last few minutes buying pulled it to end at +155.99; gained 58.67 when compares with its starting point. The Average recorded a gain of 9.07.
At the end of the day, %K(yellow) of MSCD recorded as -117.42 (+22.99), %D(red) -117.39 (+10.12) and the Histogram +18.80 (-4.71). Both indicators hooked slightly up but the Histogram printed another shorter bar.
MSCD shows that overall market sentiment has temporarily stabilized but uncertainty remains as the Histogram has formed a round top.
FBMKLCI
FBMKLCI rebounded but capped by its 12EMA to finish at 1,580 gained 2.57. The short white candle coupled with low volume will not change the entire scenario in a day. The index should be moving sideways while testing its support line on and off. The 20MA then 30MA will be strong supports in the battlefield.FBMSCAP has also printed a white candle coupled with lower volume yesterday. As such, uncertainty remains. Its job is to fill up the gap again before staging another upswing.
FBMACE printed yet another long tail doji with higher volume. This indicating strong support emerged whenever prices were cheap. To return to the center stage the index must break through its overhead resistance line first. The downside support has been raised to 4,098, its recent low.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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