Local sentiment progressed in deeper sorrow as selling pressure weighed on the key index, FBMKLCI, which fell nearly 15 points yesterday. The intra-day Oscillator almost free fell after the break to end at -817.53; lost 505.80 when compares with its starting point. The Average recorded a loss of 582.87.
At the end of the day, %K(yellow) of MSCD recorded as -219.54 (-66.04), %D(red) -168.78 (-33.14) and the Histogram -4.97 (-11.45). Both indicators fell sharply to touch the support line of the channel and the Histogram printed its first negative bar.
MSCD shows that overall market sentiment is in deep pessimism now.
FBMKLCI
FBMKLCI fell straight and broke the 30EMA and ended around the support of 1,561, which is also its 50EMA. Most indicators show that the market is still not oversold yet, as such, the 50EMA might not be able to halt further selling today. The next supports will be 1,556, hopefully.
FBMSCAP fell below its previous low and broke its 200EMA with volume increased significantly yesterday. As the index has fallen below the Lower Bollinger Band and most indicators have slid into oversold area, the fall should be alleviated. However, it still might test its next support around 12,331 due to unstable external circumstances. Its overhead resistance is the 200EMA around 12,468 now.FBMACE recorded a new low after losing 29.23 points yesterday. As selling pressure persisted, the index will follow the lead from the main market to find its next support which is around 4,014. Its previous low will be its resistance now.
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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