KLSE CHART ANALYSIS FBMKLCI 29 November 2012

Everybody was optimistic that KLSE will go up today and believe many people traded some counter but eventually it drop back to negative zone at the last call today..

Indicators

1 ) Trendline - below the downtrend line .. ( Bearish )
2)  Support/Resistance - Broke above the previous low at 1600 ( Bearish ) 

3) MACD -Bearish Crossover   ( Bearish )
4) RSI - Broken below 30% (Bearish) ,

5) STO - bullish crossover (Slightly Bullish) If break above 20% will be more bullish
6) Ichimoku -  a) Price coming entering from the support cloud (Bearish).

                       b) Conversion line  below the base line (Bearish).
                       c) Price close below the baseline ( Bearish) .
7) Candlestick pattern -Two Crows in making   (Bearish). Click here to know more..

Conclusion:

Bearish

Be patient as stay sideline until we see a true bullish reversal.. Might attempt to test back the 1600 and breaking below it will be bearish again..

Resistance-  1621 / 1649 /  1668 /1681 /1725

Support -   1600 / 1594 / 1581