KLSE CHART ANALYSIS FBMKLCI 7 September 2012

Lets check the chart on KLSE to check whether it is bullish to earn more profit or not..

 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 3R1G or 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
We need to wait for another day to check whether it can close above 1637 because now it is testing the support line.  

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