KLSE CHART ANALYSIS FBMKLCI 11 September 2012

Today KLSE deep dive into the bearish zone and was down by 17 points and broke the resistance at 1609 and after the midday it slowly went up to  minus 6 points at 1614

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 ( Bearish ) if break this level will confirm   Bullish
5) STO - Bullish Crossover and broke above 20% ( 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)
7) Candlestick pattern - Formed at hammer on the support at 1609. If tomorrow closed with a white candlestick there is chances it might go up bullish


Conclusion:
Bearish
Awaiting for the German Court Approval on the European Bond Buying Scheme to ease the European interest rates. (NEWS)



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