The eleventh hour selling pressure in selected index heavyweight sent the FBM KLCI marginally lower as the key index extended its losses to close at 1,851.80 pts yesterday. The MACD Histogram has extended another red bar, while the RSI remains below 50. Resistance will be pegged around the 1,870-1,880 levels. Support will be set around the 1,840 level.

ECONBHD has rebounded and subsequently retested the EMA20 level. The MACD Histogram has extended another green bar, while the RSI has recovered from the oversold position. Monitor for a shortterm consolidation breakout above the RM1.06 level, targeting the RM1.18 and RM1.25 levels. Support will be set around the RM1.00 level.

Source: Mplus Research - 4 May 2018