KLSE CHART ANALYSIS FBMKLCI 28 November 2012

Still no trading for me with all the negative sentiment globally but today KLSE rebound after hitting the support at 1594.

Indicators

1 ) Trendline - below the downtrend line .. ( Bearish )
2)  Support/Resistance - Broke above the previous low at 1600 ( Bearish ) 

3) MACD -Bearish Crossover   ( Bearish )
4) RSI - Broken below 30% (Bearish) ,

5) STO - Broke below 20% and bearish crossover (Bearish)
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 - Bullish Engulfing Candle  (Bullish).

Conclusion:

Bearish

Eventhough rebound above 1600 but we are not sure whether this is dead cat bounce.. As long it is below the downtrend line and below the ichimoku cloud i think it is still bearish..

Stay sideline until we are confirmed rebound.. 

Resistance-  1621 / 1649 /  1668 /1681 /1725

Support -   1600 / 1594 / 1581