Latest price action is DOWN. Support is seen at 50ma at 1789. currently price react to the line positively, Price drop to a low at 1795 and rebound.
MACD is looking BEARISH. Looking at the momentum, selling pressure is still strong (histogram).
RSI fall BELOW SIGNAL. It tested signal level, fell below the signal level, but push back up, it seems like that level cannot hold and it fell again below the signal level.
STOCHASTIC currently pointing UP, but I opine that this move is immature as the Stochastic is yet to go below the oversold area, thus, there is a possibility for the line to move lower, further into the oversold area.
As a summary, short term outlook for KLCI is Bearish. There is a possibility that it will test the 1790 level Again.
MACD is looking BEARISH. Looking at the momentum, selling pressure is still strong (histogram).
RSI fall BELOW SIGNAL. It tested signal level, fell below the signal level, but push back up, it seems like that level cannot hold and it fell again below the signal level.
STOCHASTIC currently pointing UP, but I opine that this move is immature as the Stochastic is yet to go below the oversold area, thus, there is a possibility for the line to move lower, further into the oversold area.
As a summary, short term outlook for KLCI is Bearish. There is a possibility that it will test the 1790 level Again.
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