KLSE CHART ANALYSIS FBMKLCI 10 September 2012

KLSE Slump after weak increase in Dow Jones together with other global market with went up firmly. KLSE close at 1621 with weak volume.Look like many investor are on the sideline to wait for the Big Bernanke on this coming Thursday.

Indicators
1 ) Trendline - Broke the uptrend line (Bearish) - Requires to break above 1637 to maintain bullish
2)  Support/Resistance - Formed Higher high (Bullish) but formed Lower Low ( Bearish)
3) MACD - Bearish and let waits for 4R1G to bullish reversal
4) RSI - At oversold and went back up to test the 30% ( Slightly Bullish) if break this level will confirm   Bullish
5) STO - Still in Bearish Mode. Waiting for it to break above 20% to confirm bullish
6) Ichimoku -  a) Price penetrating in the support cloud (Bearish). Let wait for it to come out from the cloud
                       b) Conversion line retrace and kissing the base line (Bearish). Waiting for rebound
                       c) Price below the baseline ( Bearish)


Conclusion:
Bearish
Need more stronger push by Global Factors and Global Interest. If Dow Jones can go up, there are chances of KLSE going up but if vice versa  KLSE may penetrate deeper into the support cloud

Resistance- 1624/  1637 ( Trendline Support on 10 Sept) / 1645 / 1656
Support -  1609/ 1592 / 1582