Friday, 17 November 2017

20 Nov 2017 - FBMKLCI to revisit 1,716 and head below.


A narrower price band was seen on 17 Nov, with a 5.82-point range traded between 1,725.69 and 1,721.66. The index inched up 3.55-points on minor nibbling activities to settle at  1,721.66. 

Supports at 1,700, 1,712 and 1,716 will be much weaker for 20 Nov, whilst heavy profit taking at the 1,721, 1,736 and 1,748 resistance areas will cap the index rise. All five of its indicators (CCI, DMI, MACD, Oscillator and Stochastic) are negative.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 10 Nov. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned below par (at a 3.11-points to 6.11-points discount) against the index on some heavy selling activities.

Due to the US markets' 100.12-points major decline for 17 Nov, the local index will follow the American markets' weaker direction. The FBMKLCI's medium-term downside targets are 1,688 and 1,662.

Thursday, 16 November 2017

17 Nov 2017 - Dead Cat bounce for the FBMKLCI.


A narrower price band was seen on 16 Nov, with an 8.75-point range traded between 1,725.72 and 1,716.97. The index fell 4.88-points on persistent foreign selling activities to settle at  1,718.11. 

Supports at 1,700, 1,712 and 1,716 will be much weaker for 17 Nov, whilst heavy profit taking at the 1,718, 1,736 and 1,748 resistance areas will cap the index rise. All five of its indicators (CCI, DMI, MACD, Oscillator and Stochastic) are negative.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 10 Nov. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned below par (at a 2.61-points to 7.61-points discount) against the index on some heavy selling activities.

Despite the US markets' 187.08-points major rebound for 16 Nov, the local index may not follow the American markets' firmer direction today. The FBMKLCI's medium-term downside targets are 1,688 and 1,662.

Wednesday, 15 November 2017

16 Nov 2017 - Further downside expected.


A wider price band was seen on 15 Nov, with an 13.41-point range traded between 1,736.40 and 1,722.99. The index tumbled 10.62-points on persistent foreign selling activities to settle at the day's low of 1,722.99. 

Supports at 1,700, 1,712 and 1,720 will be much weaker for 16 Nov, whilst heavy profit taking at the 1,722, 1,736 and 1,748 resistance areas will cap the index rise. All five of its indicators (CCI, DMI, MACD, Oscillator and Stochastic) are negative.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 10 Nov. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned below par (at an enlarging 5.49-points to a 8.99-points discount) against the index on some heavier selling activities.

Due to the US markets' 138.19-points major decline for 15 Nov, the local index will follow the American markets' weaker direction today and head below the 1,720 support level towards its downside targets of 1,716, 1,697 and 1,673.

Tuesday, 14 November 2017

15 Nov 2017 - Headed below 1,733.


A wider price band was seen on 14 Nov, with an 11.30-point range traded between 1,744.61 and 1,733.31. The index fell 3.88-points on persistent selling activities to settle at 1,733.61. 

Supports at 1,712, 1,724 and 1,730 will be weaker for 15 Nov, whilst profit taking at the 1,733, 1,746 and 1,756 resistance areas will cap the index rise. Four of its indicators (CCI, DMI, Oscillator and Stochastic) are negative, whilst its MACD remains positive.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 10 Nov. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned below par (at a 2.61-points to a 6.11-points discount) against the index on some heavier selling activities.

Due to the US markets' 30.23-points minor decline for 14 Nov, the local index will follow the American markets' weaker direction today and head below the key 1,733 support level. 

Monday, 13 November 2017

14 Nov 2017 - Gunning for 1,733 very soon.


A wider price band was seen on 13 Nov, with a 9.23-point range traded between 1,746.72 and 1,737.49. The index fell 4.79-points on persistent selling activities to settle at the day's low of 1,737.49. 

Supports at 1,712, 1,724 and 1,733 will be weaker for 14 Nov, whilst profit taking at the 1,737, 1,746 and 1,756 resistance areas will cap the index rise. Four of its indicators (CCI, DMI, Oscillator and Stochastic) are negative, whilst its MACD remains positive.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 10 Nov. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned around par (at a 0.51-points premium to a 4.49-points discount) against the index on some position adjustment activities.

Despite the US markets' 17.49-points minor rise for 13 Nov, the local index may not follow the American markets' position direction today and head towards the key 1,733 support level. 

Sunday, 12 November 2017

13 Nov 2017 - Index may test 1,740 and 1,733 soon.


A wider price band was seen on 10 Nov, with a 8.00-point range traded between 1,748.94 and 1,740.94. The index fell 4.53-points on selling activities to settle at 1,742.28. 

Supports at 1,733, 1,738 and 1,740 may be weaker for 13 Nov, whilst profit taking at the 1,742, 1,751 and 1,760 resistance areas may cap the index rise. Four of its indicators (CCI, DMI, Oscillator and Stochastic) are negative, whilst its MACD is positive.

Investors may sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 10 Nov. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned below par (at a 1.28-points to a 5.78-points discount) against the index on some stronger selling activities.

Due to the US markets' 39.73-points decline for 10 Nov, the local index may follow the American markets' weaker direction today.

Thursday, 9 November 2017

10 Nov 2017 - DJIA's fall may cause FBMKLCI weakness.


A wider price band was seen on 9 Nov, with a 6.99-point range traded between 1,749.31 and 1,742.32. The index rose 2.61-points on minor bargain hunting activities to settle at 1,746.81. 

Supports at 1,733, 1,739 and 1,742 may be weaker for 10 Nov, whilst profit taking at the 1,746, 1,760 and 1,768 resistance areas may cap the index rise. Three of its indicators (CCI, MACD and Stochastic) are positive, whilst its DMI and Oscillator are negative.

Investors may range trade, as the index turned into neutral territory and is between the 18 and 40 SMA since 7 Nov. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned below par (at a 0.31-points to a 4.31-points discount) against the index on some selling activities.

Due to the US markets' 101.42-points large decline for 9 Nov, the local index may follow the American markets' weaker direction today.

Wednesday, 8 November 2017

9 Nov 2017 - Late afternoon index suppression.


A narrower price band was seen on 8 Nov, with a 5.74-point range traded between 1,749.83 and 1,744.09. The index fell 6.74-points on late afternoon selling activities to settle at 1,744.20. 

Supports at 1,733, 1,739 and 1,742 may be obvious for 9 Nov, whilst profit taking at the 1,744, 1,760 and 1,768 resistance areas may cap the index rise. Two of its indicators (MACD and Stochastic) are positive, whilst its CCI, DMI and Oscillator are negative.

Investors may range trade, as the index turned into neutral territory and is between the 18 and 40 SMA since 7 Nov. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned around par (at a 2.20-points discount to a 0.80-points premium) against the index on some position adjustment activities.

Due to the US markets' 6.13-points rise for 8 Nov, the local index may range trade further today.

Tuesday, 7 November 2017

8 Nov 2017 - Index recovers and may range trade.


A wider price band was seen on 7 Nov, with a 8.50-point range traded between 1,750.94 and 1,742.44. The index rose 8.65-points on major buying activities to settle at the day's high of 1,750.94. 

Supports at 1,733, 1,739 and 1,750 may be obvious for 8 Nov, whilst profit taking at the 1,752, 1,760 and 1,772 resistance areas may cap the index rise. Three of its indicators (CCI, MACD and Stochastic) are positive, whilst its DMI and Oscillator are negative.

Investors may range trade, as the index turned into neutral territory and is between the 18 and 40 SMA since 7 Nov. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned above par (at a 0.56-points to a 2.06-points premium) against the index on some buying activities.

Due to the US markets' 8.81-points rise for 7 Nov, the local index may range trade further today.

Monday, 6 November 2017

7 Nov 2017 - Range bound to lower.


A narrower price band was seen on 6 Nov, with a 3.98-point range traded between 1,745.41 and 1,741.43. The index inched up 1.36-points on minor nibbling activities to settle at 1,742.29. 

Supports at 1,724, 1,733 and 1,739 may be weaker for 7 Nov, whilst profit taking at the 1,742, 1,751 and 1,760 resistance areas will cap the index rise. Four of its indicators (CCI, DMI, Stochastic and Oscillator) are negative, whilst its MACD remains positive.

Investors may sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned below par (at a 0.79-points to a 2.79-points discount) against the index on some selling activities.

Despite the US markets' 9.23-points rise for 6 Nov, there may be little respite for the local index and there may be further selling pressure on rallies today.

Sunday, 5 November 2017

6 Nov 2017 - May test the 1,733 support soon.


A narrower price band was seen on 3 Nov, with a 5.19-point range traded between 1,744.79 and 1,739.60. The index inched down 0.12-points on minor profit taking activities to settle at 1,740.93. 

Supports at 1,724, 1,733 and 1,738 may be weaker for 6 Nov, whilst profit taking at the 1,740, 1,751 and 1,760 resistance areas will cap the index rise. Four of its indicators (CCI, DMI, Stochastic and Oscillator) are negative, whilst its MACD remains positive.

Investors may sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned around par (at a 1.07-points premium to a 5.93-points discount) against the index on some position adjustment activities.

Despite the US markets' 22.93-points rise for 3 Nov, there may be little respite for the local index and there may be further selling pressure on rallies today.

Thursday, 2 November 2017

3 Nov 2017 - No respite for the FBMKLCI.


A narrower price band was seen on 2 Nov, with a 7.37-point range traded between 1,747.17 and 1,739.80. The index fell 2.88-points on consistent profit taking activities to settle at 1,741.05. 

Supports at 1,724, 1,733 and 1,739 may be weaker for 3 Nov, whilst profit taking at the 1,741, 1,751 and 1,760 resistance areas will cap the index rise. Four of its indicators (CCI, DMI, Stochastic and Oscillator) are negative, whilst its MACD remains positive.

Investors may sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned around par (at a 1.95-points premium to a 0.55-points discount) against the index on some position adjustment activities.

Despite the US markets' 81.25-points rise for 2 Nov, there may be little respite for the local index and there may be further selling pressure on rallies today.

Wednesday, 1 November 2017

2 Nov 2017 - Index does not look good.


A narrower price band was seen on 1 Nov, with a 6.45-point range traded between 1,748.80 and 1,742.35. The index fell 3.99-points on persistent profit taking activities to settle at 1,743.93. 

Supports at 1,733, 1,736 and 1,741 may be weaker for 2 Nov, whilst profit taking at the 1,743, 1,751 and 1,760 resistance areas will cap the index rise. Three of its indicators (CCI, DMI and Oscillator) are negative, whilst its Stochastic and MACD turned positive.

Investors may sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Nov, Dec 2017, Mar & Jun 2018) turned below par (at a 1.93-points to a 6.43-points discount) against the index on some selling activities.

Despite the US markets' 57.77-points rise for 1 Nov, there may be little respite for the local index and there may be further selling pressure on rallies today.

Tuesday, 31 October 2017

1 Nov 2017 - Index is still quite unstable.


A wider price band was seen on 31 Oct, with a 8.66-point range traded between 1,751.26 and 1,742.60. The index inched down 0.43-points despite late afternoon nibbling activities to settle at 1,747.92. 

Supports at 1,733, 1,736 and 1,742 may be weaker for 1 Nov, whilst profit taking at the 1,747, 1,751 and 1,760 resistance areas will cap the index rise. Three of its indicators (CCI, DMI and Oscillator) are negative, whilst its Stochastic and MACD turned positive.

Investors may sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Nov, Dec 2017 & Mar 2018) turned around par (at a 1.42-points discount to a 2.08-points premium) against the index on some position adjustment activities.

Despite the US markets' 28.50-points rise for 31 Oct, there may be little respite for the local index and there may be further selling pressure on rallies today.

Monday, 30 October 2017

31 Oct 2017 - A rebound rally to sell into?


A narrower price band was seen on 30 Oct, with a 4.39-point range traded between 1,750.85 and 1,746.46. The index inched up 2.22-points on nibbling activities to settle at 1,748.35. 

Supports at 1,730, 1,733 and 1,746 may be weaker for 31 Oct, whilst profit taking at the 1,748, 1,751 and 1,760 resistance areas will cap the index rise. Three of its indicators (CCI, DMI and Oscillator) are negative, whilst its Stochastic and MACD turned positive.

Investors may sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Oct, Nov, Dec 2017 & Mar 2018) turned around par (at a 0.85-points discount to a 1.65-points premium) against the index on some position adjustment activities.

Due to the US markets' 85.45-points decline for 30 Oct, there may be little respite for the local index and there may be further selling pressure on rallies today.

Sunday, 29 October 2017

30 Oct 2017 - A Wave 4 rebound selling opportunity?


A wider price band was seen on 27 Oct, with a 11.61-point range traded between 1,751.50 and 1,739.89. The index rose 9.33-points on buying activities to settle at 1,746.13. 

Supports at 1,730, 1,733 and 1,744 may be weaker for 30 Oct, whilst profit taking at the 1,746, 1,751 and 1,760 resistance areas will cap the index rise. Four of its indicators (CCI, DMI, Oscillator and MACD) are negative, whilst its Stochastic turned positive from oversold territory.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Oct, Nov, Dec 2017 & Mar 2018) turned around par (at a 1.63-points discount to a 4.37-points premium) against the index on some position adjustment activities.

Despite the US markets' 33.33-points minor rebound for 27 Oct, there may be little respite for the local index and there may be further selling pressure on rallies today.

Thursday, 26 October 2017

27 Oct 2017 - No selling respite despite Dow bounce.


A narrow price band was seen on 26 Oct, with a 5.91-point range traded between 1,740.84 and 1,734.93. The index fell 2.25-points on minor selling activities to settle at 1,736.80. 

Supports at 1,712, 1,724 and 1,733 will be weaker for 27 Oct, whilst profit taking at the 1,736, 1,745 and 1,756 resistance areas will cap the index rise. Four of its indicators (CCI, DMI, Oscillator and MACD) are negative, whilst its Stochastic turned positive from oversold territory.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Oct, Nov, Dec 2017 & Mar 2018) turned around par (at a 2.30-points discount to a 3.70-points premium) against the index on some position adjustment activities.

Despite the US markets' 71.40-points minor rebound for 26 Oct, there may be little respite for the local index and there could be further selling pressure towards the critical 1,733-support today.

Wednesday, 25 October 2017

26 Oct 2017 - May re-test 1,733 real soon.


A narrower price band was seen on 25 Oct, with a 6.84-point range traded between 1,740.51 and 1,733.67. The index rose 2.91-points on minor nibbling activities to settle at 1,739.05. 

Supports at 1,712, 1,724 and 1,733 will be weaker for 26 Oct, whilst profit taking at the 1,739, 1,745 and 1,756 resistance areas will cap the index rise. Four of its indicators (CCI, DMI, Oscillator and MACD) are negative, whilst its Stochastic turned positive from oversold territory.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Oct, Nov, Dec 2017 & Mar 2018) turned above par (at a 0.45-point to a 5.45-points premium) against the index on some nibbling activities.

Due to the US markets' 112.30-points major decline for 25 Oct, there may be little respite for the local index and there could be further selling pressure on the critical 1,733-support today.

Tuesday, 24 October 2017

25 Oct 2017 - No respite at all for the FBMKLCI.


A wider price band was seen on 24 Oct, with a 9.38-point range traded between 1,745.48 and 1,736.10. The index fell 5.33-points on consistent selling activities to settle at 1,736.14. 

Supports at 1,712, 1,724 and 1,730 will be weaker for 25 Oct, whilst profit taking at the 1,736, 1,745 and 1,756 resistance areas will cap the index rise. All five of its indicators (CCI, DMI, Oscillator, Stochastic and MACD) are all negative.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Oct, Nov, Dec 2017 & Mar 2018) turned above par (at a 0.36-point to a 7.36-points premium) against the index on some nibbling activities.

Despite the US markets' 167.80-points major rise for 24 Oct, there may be little respite for the local index and there could be further selling pressure on the critical 1,730-support today.

Monday, 23 October 2017

24 Oct 2017 - Sell on the pyrrhic rebounds.


A narrower price band was seen on 23 Oct, with a 3.48-point range traded between 1,744.86 and 1,741.38. The index inched up 0.82-points on minor nibbling activities to settle at 1,741.47. 

Supports at 1,724, 1,730 and 1,739 will be weaker for 24 Oct, whilst profit taking at the 1,741, 1,748 and 1,760 resistance areas will cap the index rise. All five of its indicators (CCI, DMI, Oscillator, Stochastic and MACD) are all negative.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Oct, Nov, Dec 2017 & Mar 2018) turned above par (at a 0.03-point to a 5.03-points premium) against the index on some nibbling activities.

Due to the US markets' 54.67-points minor decline for 23 Oct, there may be little respite for the local index and there could be further selling pressure on the critical 1,740-support today.

Sunday, 22 October 2017

23 Oct 2017 - Persistent selling to the day's low of 1,740.65.


A narrower price band was seen on 20 Oct, with a 4.76-point range traded between 1,745.41 and 1,740.65. The index fell 3.34-points on persistent selling activities to settle at the day's low of 1,740.65. 

Supports at 1,724, 1,730 and 1,736 will be weaker for 23 Oct, whilst profit taking at the 1,740, 1,748 and 1,760 resistance areas will cap the index rise. All five of its indicators (CCI, DMI, Oscillator, Stochastic and MACD) are all negative.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Oct, Nov, Dec 2017 & Mar 2018) turned around par (at a 4.65-point discount to a 1.35-points premium) against the index on some position adjustment activities.

Despite the US markets' 165.59-points major rise for 20 Oct, there may be little respite for the local index and there could be further selling pressure on the critical 1,740-support today.

Tuesday, 17 October 2017

19 Oct 2017 - Headed to 1,744, 1,717 & 1,702 next.


A narrower price band was seen on 17 Oct, with a 6.44-point range traded between 1,755.43 and 1,748.99. The index fell 5.38-points on persistent selling activities to settle at the day's low of 1,748.99 ahead of the Deepavali holiday.  

Supports at 1,730, 1,736 and 1,744 will be weaker for 19 Oct, whilst profit taking at the 1,748, 1,760 and 1,772 resistance areas will cap the index rise. All five of its indicators (CCI, DMI, Oscillator, Stochastic and MACD) are all negative.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Oct, Nov, Dec 2017 & Mar 2018) turned around par (at a 0.49-point discount to a 1.51-points premium) against the index on some position adjustment activities.

Monday, 16 October 2017

17 Oct 2017 - Hovering precariously around 1,750.


A wider price band was seen on 16 Oct, with a 9.82-point range traded between 1,759.31 and 1,749.49. The index inched down 0.95-points on minor selling activities to settle at 1,754.37.  

Supports at 1,740, 1,749 and 1,753 will be weaker for 17 Oct, whilst profit taking at the 1,755, 1,772 and 1,783 resistance areas will cap the index rise. All five of its indicators (CCI, DMI, Oscillator, Stochastic and MACD) are all negative.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Oct, Nov, Dec 2017 & Mar 2018) turned above par (at a 0.63-point to a 2.13-points premium) against the index on some nibbling activities. 

Despite the US markets' 85.24-points minor rise for 16 Oct, there may be little respite for the local index and there could be further pressure on the critical 1,750-support today.

Sunday, 15 October 2017

16 Oct 2017 - Sell on the late afternoon rebounds.


A narrower price band was seen on 13 Oct, with a 4.55-point range traded between 1,756.17 and 1,751.62. The index inched up 1.32-points on late afternoon minor nibbling activities to settle at 1,755.32.  

Supports at 1,740, 1,750 and 1,753 will be weaker for 16 Oct, whilst profit taking at the 1,755, 1,772 and 1,783 resistance areas will cap the index rise. All five of its indicators (CCI, DMI, Oscillator, Stochastic and MACD) are all negative.

Investors will sell on rallies, as the index turned into bearish territory and is below the 18 and 40 SMA since 20 Sep. The FKLI contracts (Oct, Nov, Dec 2017 & Mar 2018) turned above par (at a 1.18-point to a 1.68-points premium) against the index on some nibbling activities. 

Despite the US markets' 30.71-points minor rise for 13 Oct, there may be little respite for the local index and there could be further pressure on the critical 1,750-support today.