Inclusive of today, 4 days in the row KLSE started to climb back to the bull ladder mainly affected by the good anticipation of the Malaysian's 2013 Budget.
Let check on the KLSE index which closed on 28 September 2012
Indicators
1 ) Trendline - Broken below uptrend line at 1654 (Bearish) .
2) Support/Resistance - Formed Lower low and lower high (Bearish)
3) MACD - Formed 4R3G and a smal bullish crossover( Bullish )
4) RSI - Broke above 50% (Bullish)
5) STO - Broke above 50% and bullish crossover (Bullish)
6) Ichimoku - a) Price coming out from the support cloud (Slightly Bullish ). If break apart from the support cloud it will be more bullish
b) Conversion line below the base line (Bearish).
c) Price close abovethe baseline ( Bullish) .
7) Candlestick pattern - Formed4 white candle after a support hammer (Bullish) .
Conclusion:
Slightly Bullish
Resistance- 1645 / 1651/ 1656
Support - /1609/ 1592 / 1582 / 1624 / 1628/ 1634