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Given the downtick in the RSI, which signals growing selling momentum, we expect the index to test the immediate support at 1,581 in the near term. A rebound from this level could reverse the current weakness. We recommended investors tread the market cautiously and use a tight stop-loss to protect their capital.
See MoreWe expect the FBMKLCI to hover in the range of 1,580-1,610 for the time being, and violation of either limit would spark a follow-through.
See MoreThis is supported by a downtick in the RSI, which signals growing selling momentum. We expect the index to test the immediate support level at 1,581.
See MoreAt the close in NYSE, the DJIA rose 0.06%, while the S&P 500 index lost 0.01%, and the NASDAQ Composite index lost 0.06%.
See MoreAt the close in NYSE, the DJIA declined 0.59%, while the S&P 500 index declined 0.49%, and the NASDAQ Composite index declined 0.80%.
See MoreAt the close in NYSE, the DJIA fell 0.19%, while the S&P 500 index climbed 0.00%, and the NASDAQ Composite index climbed 0.07%.
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