Saturday, July 9, 2011

KLCI In Bullish Trend

KLCI broke out of its resistance level of 1560 level and it is now at the upper channel of the Bollinger band.

The GAMMA chart is showing strong uptrend with the short term and long term groups of moving averages showing bullish trend.

This shows that both short term traders and long term investors are supporting the market.

In the short term, the market may pull back towards its 20 day moving averages.

If it does so, then it will be a good time to add into your positions.

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