Thursday, April 3, 2008

KLSE Monthly Chart

KLSE composite index was down 10.76 points yesterday to close at 1239.65. This is probably due to uncertainty in the political scene. As such, the KLSE index did not rally together with other Asian bourses.

The monthly chart for the KLSE index is showing a rebound from the 61.8% Fibonacci Retracement level of 1185. If the index can move above the high of 1524 that was set on Jan 2008, it will be heading towards 1711. That is the first Fibonacci objective.

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