KLSE CHART ANALYSIS FBMKLCI 14 December 2012

KLSE incline quickly after break above the resistance at 1621 and also broke above 1649 but facing some resistance at the 1655 resistance and Ichimoku Cloud Resistance..

ndicators

1 ) Trendline - Uptrend
2)  Support/Resistance - Formed lower  low ( Bearish ) 

3) MACD -Bullish Crossover   ( Bullish)
4) RSI - Broke above 70% (Bullish) ,

5) STO - Bearish crossover  ( Bearish  )
6) Ichimoku -  a) Price coming entering from the resistance cloud  and testing the upper resistance( Bullish ).

                       b) Conversion line  above the base line ( Bullish ).
                       c) Price close above the baseline (  Bullish ) .

7) Candlestick - Hanging man (  Bearish  ) Please refer here for more information

Conclusion:

Bullish

If it is able to break the Ichimoku cloud it will indicate stronger bullish sentiment but if it retrace back from now it may test back the support cloud at 1637.

Resistance-     1655/ 1668 /1681 /1725

Support -  1649 / 1621 /1600 / 1594 / 1581