KLSE CHART ANALYSIS FBMKLCI 3 December 2012

The start of the new month and the last of 2012.  Today went down by 3 point and if tomorrow to drop down it will confirm the lower high and it will be highly bearish to test the 1600 shortly..

Indicators

1 ) Trendline - Broke above the downtrend.. ( Bullish)
2)  Support/Resistance - Formed lower high and low ( Bearish ) 

3) MACD -Negative portion   ( Bearish )
4) RSI - Still below 30% (Bearish) ,

5) STO - bullish crossover and broke above 20%  (Bullish) I
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 - Evening Star  (Bearish). 

Conclusion:

Bearish

Evening Star formed.. Chances to retest the 1600 support is high.

Resistance-  1621 / 1649 /  1668 /1681 /1725

Support -   1600 / 1594 / 1581