Another good run from Dow Jones and KLSE but too bad that we have holidays on this coming Monday and we can gain extra profit since it is still hot and fresh after the stimulus plan from QE3 and the ECB stimulus.
Let look at the FBMKLCI Chart which was closed higher on 14 September
Indicators
1 ) Trendline - Broken the uptrend line at 1641 (Bullish) .
2) Support/Resistance - Formed Higher low (Bullish)
3) MACD - Formed 4R1G (Bullish)
4) RSI - Broke above 30% and heading towards 50% (Bullish)
5) STO - Bullish Crossover and broke above 20% ( Bullish)
6) Ichimoku - a) Price rebounce and came out from in the support cloud (Bullish). Ahh.. At last fresh air and some slight minty smell from those Freshly printed MONEY $$$!!!
b) Conversion line retrace and kissing the base line (Bearish). Waiting for rebound
c) Price broke above the baseline ( Bullish) .
7) Candlestick pattern - Another white candle after a confirmation candle ( Bullish)
Conclusion:
Bullish
Resistance- 1645 / 1656
Support - 1641( Trendline Support on 14 Sept) /1624/1609/ 1592 / 1582
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