KLCI manages to keep above its up trend support line last week. This is a positive sign.
The MACD indicator is still above its signal line, indicating that the Bulls are still in control.
However a danger sign is appearing on the RSI chart. The indicator is showing a slight divergence from the price chart with the index making a newer high whereas RSI is trending downwards.
All eyes will be on whether the index is able to maintain above its up trend line. If this line is violated, coupled with a diverging RSI, it will mean a sell down is in the cards.
Trade with care.
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