We expect the index to trade sideways as the RSI indicator suggests flattish momentum. The index is likely to continue moving within the 1,580-1615 range. If the index fails to stay at above this level, the next support level is at 1,560.
See MoreGiven the downtick in the RSI which signals growing selling momentum, we expect the index to test the immediate support at 1,560 in the near term. A rebound from this level could reverse the current weakness.
See MoreThe index formed a “spinning top” pattern last Friday as selling pressure has been absorbed. For now, we expect a sideways movement ahead. We expect the FBMKLCI to hover in the range of 1,580-1,615 for now and a violation of either limit would spark a follow-through.
See MoreAt the close in NYSE, the DJIA gained 0.31% to hit a new all time high, while the S&P 500 index gained 0.19%, and the NASDAQ Composite index climbed 0.08%.
See MoreAt the close in NYSE, the DJIA rose 0.29%, while the S&P 500 index gained 0.70%, and the NASDAQ Composite index gained 1.04%.
See MoreAt the close in NYSE, the DJIA lost 0.46%, while the S&P 500 index lost 0.29%, and the NASDAQ Composite index fell 0.27%.
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