Sunday, May 10, 2009


KLCI broke through its 200 day moving average, made a test before resuming its current bullish trend. This is a good sign for the market. It shows that investors are willing to buy on pullbacks.

RSI is showing a slight divergence with the indicator making a lower high on 7 May 09.

Immediate resistance level is at 1040 and 1060. Pull back should find support at 1000 level.

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