Update KLCI & Futures

1) KLCI is again in positive territory at 936. Thats the 2nd day of closing above the 931 resistance. If it can stay above 931 for another day, then breakout is confirmed. The only issue I have is a lack of vol. Higher vol is desirable. Downside support is now 931, a break below this will not be good. Assuming it stays above 931, then we have a confirmed IHS with target of 976/980. On positive side index is above the 10,21 & 30-day MA, Daily RSI & MACD are positive. Weekly MACD turning up but still no golden cross yet & RSI is turning up too.


2) KLCI Futures has performed amazingly well. It broke through the 921 & 933 resistances strongly & though the Doji star appeared the formation was not completed because the index shot right up. Its now coming to resistances at the 940-944 band (blue arrows) & a tougher resistance at 960 (red arrows). It has been moving right up since it hit the 876 support so we should expect a correction but so far it has not disappointed us. Maybe 940/944 will slow it down. Maybe but I am sure 960 will!