KLSE CHART ANALYSIS FBMKLCI 21 December 2012

Black Candle with MACD 3G1R Confirmation bearish reversal. With this black it may indicate a bearish reversal by forming a lower high ( Downtrend)

Indicators

1 ) Trendline - Downtrend
2)  Support/Resistance - Formed lower  high ( Bearish ) 

3) MACD -Formed 3G1R  ( Bearish )
4) RSI - Hooking downward  (Slightly Bearish ) ,

5) STO - Bearish crossover  ( Bearish  )
6) Ichimoku -  a) Price coming entering from the resistance cloud  and testing the upper resistance( Bullish ).

                       b) Conversion line  above the base line ( Bullish ).
                       c) Price close above the baseline (  Bullish ) .

7) Candlestick - Bearish Engulfing (  Bearish ) 

8 ) Market Sentiment - Bearish after Plan B of Fiscal Fear Plan was objected. Another 8 more days before the 2013.. Can the US government apprehend this roadblock?

Conclusion:

Bullish

Need to ensure that KLSE does not break below 1647 and break into the support cloud again..

Resistance-   1668 / 1681 /1725

Support -     1655 / 1647 / 1621 /1600 / 1594 / 1581