Saturday, March 7, 2009

KLCI Update

US market managed to edge out a slight gain on Friday. Dow was up 32 points to close at 6626 points.

Malaysia market has been affected by the negative sentiment as well. For the week, KLCI closed at 858 points, down 32 points.

The index is still above its low of 801 points set in Oct 2008. The index is now heading towards the lower boundary of the uptrend channel that goes all the way back to 2001. There should be buying support near the 830 level.

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