Today, all the Asian Market slide to Bearish Area but KLSE ( Malaysian Stock index manage to withstand the pressure.
Battle between Giants..
VS
A nonvoting Federal Reserve member, Malaysia Budget 2013
Charles Plosser
Let check on the KLSE index which closed on 26 September 2012
Indicators
1 ) Trendline - Broken below uptrend line at 1645 (Bearish) .
2) Support/Resistance - Formed Lower low and lower high (Bearish)
3) MACD - Formed 4R1G(
Bullish )
4) RSI - Rebound from 30% and heading towards 50% ( Slightly Bullish )
5) STO - Blue and Red Signal Kissing. Need another day to confirm..
6) Ichimoku - a) Price almost penetrated below the support cloud (Bearish).
b) Conversion line below the base line (Bearish).
c) Price close below the baseline ( Bearish) .
7) Candlestick pattern - Formed 2 white candle after a support hammer (Bullish) . N
Conclusion:
Bearish
Resistance- 1624 / 1628/ 1634 / 1645 / 1648 ( Uptrend Line) / 1656
Support - 1609/ 1592 / 1582