06/09/13W : Tight movement after a volatile week

Date     : 6th Sept 2013
KLCI   : 1,724 (-4)

Our KLCI had been moving tightly relatively since the technical rebound from 1,660. It's very near to the expected support as highlighted by the long term up trendline. This level is extremely important because it serves as the critical control to keep the long term uptrend since year 2011 intact. Despite of the volatile movement lately, it's still moving consistently in the up channel slowly from the long term view. The tight candle has shows the technical rebound is weakening and the chance to turn down turns higher.


Critical Levels:
Resistance : 1825
Support     : 1655


Technical Indicators:
1. Stochastic: Little bullish biased.
     No signal is generated.
     The momentum of the decline is reduced.
2. MACD:
     Continued to move downwards.