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The FBM KLCI is now bound between the 10-day moving average (MA) on top and the 30-day MA below, they formed the immediate resistance at 1508 and support at 1500. A breakout in either direction would see the key index continue moving in the breakout direction. The underlying medium to longer term uptrend remained intact. Immediate overhead resistance zone is at 1510 to 1532 while the downside support zone is at 1500 to 1487.
Overnight, the Dow fell -24.97 points or -0.22% lower to close at 11,178.58. Today, the FBM KLCI is likely to trade within a range of 1493 to 1517.
This week's expected range: 1470 – 1525Today’s expected range: 1493 – 1517
Resistance: 1508, 1513, 1517Support: 1493, 1498, 1500
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