Asian stock markets fell on Monday and the euro lost ground as investors fretted about the lack of progress in resolving Europe's debt problems.
Risk aversion ticked up after a closely-watched European Union finance ministers' meeting over the weekend failed to produce an agreement on how to deal with the region's deepening debt woes.
Local sentiment continued to head downwards with the Intra-day Oscillator slid all the way down to finished at -448.71; lost 576.62 when compares with its starting point. The Average recorded a loss of 218.84.
At the end of the day, %K (Yellow) of MSCD recorded as -163.02 (-10.15), %D (Red) -229.62 (+0.86) and the Histogram +82.18 (-3.89).
Both indicators didn’t have much changes but the Histogram printed yet another shorter bar above the Zero-level.
Conclusion
Market sentiment was fretted by the cloudy development of the global crisis and the loss of more than 150 points of the Dow Jones Future put more weigh on it. Market sentiment will remain subdue as global economy has almost been declared into Recession.
FBMKLCI slid deeper and is on course to test the psychological 1,400 level. Judging from charts, it is opined that the sustainability of the 1,400 level is still in doubts amidst so many unresolved issues.
(Morning Flash: Dow Jones dropped 108 points, last night)
Risk aversion ticked up after a closely-watched European Union finance ministers' meeting over the weekend failed to produce an agreement on how to deal with the region's deepening debt woes.
Local sentiment continued to head downwards with the Intra-day Oscillator slid all the way down to finished at -448.71; lost 576.62 when compares with its starting point. The Average recorded a loss of 218.84.
At the end of the day, %K (Yellow) of MSCD recorded as -163.02 (-10.15), %D (Red) -229.62 (+0.86) and the Histogram +82.18 (-3.89). Both indicators didn’t have much changes but the Histogram printed yet another shorter bar above the Zero-level.
Conclusion
Market sentiment was fretted by the cloudy development of the global crisis and the loss of more than 150 points of the Dow Jones Future put more weigh on it. Market sentiment will remain subdue as global economy has almost been declared into Recession.
FBMKLCI slid deeper and is on course to test the psychological 1,400 level. Judging from charts, it is opined that the sustainability of the 1,400 level is still in doubts amidst so many unresolved issues.(Morning Flash: Dow Jones dropped 108 points, last night)
Constructed and Written by Smartbiz (Chart of FBMKLCI extracted from ChartNexus)
(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)
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