Tuesday, April 1, 2008

KLSE Commentary

The KLSE index is currently below its 200 day moving average which is a bearish sign. The index crossed the 200 days moving average (in Blue) since the beginning of Mar 08.

The positive sign is the 10 day moving average is increasing which means that the index is showing strength in the short term.

Based on the down swing from 14 Feb to 10 Mar 08, the 38.2% Fibonacci Retracement is at 1261. The index has to clear this level in order to move out of the down trend signal. After that level, it will have to take out 1328 which is very close to the 50 day moving average (in Green).

The MACD went above its MACD signal line on 25 Mar 08 which coincide with the up move of the index from 1229 to 1247.

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