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Tuesday, November 11, 2008

Composite Index 10/11/2008 / 综合指数 2008年 11月 10日

Composite Index Daily Technical Analysis 10/11/2008 by Zhuge Liang

The KLCI ended higher on Monday as lifted by the Asian markets positive performance. The KLCI up 1.2%, while returned to above the 900 level. Therefore, as indicated by A, the 887 Fibonacci Retracement and the 900 level are now the supports for the KLCI while the resistance is still at 940 Fibonacci Retracement.

As shown on the chart, the KLCI is still situated above the Bollinger Middle Band dynamic support, and therefore, the immediate outlook is still on the positive side. But still, we have to wait until the Bollinger Bands Width expands to confirm the bullish biased movement.
If the Bollinger Bands Width should expands with the KLCI above the Bollinger Middle Band, it would be a bullish biased signal, other wise, if the Bollinger Bands Width should expands with the KLCI below the Bollinger Middle Band, it would be a bearish biased signal.

As indicated by B, total market volume remains above the 40-day VMA level, suggesting the overall market is still actively participated. Therefore, this is also another positive element for the KLCI.

As circled at C, the Stochastic remains above 70% level, which is the short term bullish region. As long as the Stochastic is still above 70% level, the short term bullish biased movement for the KLCI is expected to continue.

Generally, based on the current market condition, the KLCI is likely to stay positive provided that there are no negative news for the market.

综合指数 2008年 11月 10日


如图所示,综指继续的站稳在布林中频带(Bollinger Middle Band)以上,而且开始又出现向上翘的迹象,这显示综指有暗示继续转强的讯号。无论如何,我们还是必须等到布林频带(Bollinger Band)明显的打开,才能确认任何趋势的方向。






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