KLCI & Futures

KLCI is staying positive but it is coming up to a very strong resistance at 953. On a weekly basis it is very strong with a long white candle & positive RSI & MACD. On a daily basis MACD has just barely made a golden cross & RSI is just turning up. So if it can convincingly break 953 on higher vol then we may see a stronger rise to 980. CI will receive a boost since BNM has kept interest rates the same at its Friday meeting. But on the negative side oil prices may rise bec of hurricanes in the US Gulf Coast. H'ever with the Budget coming up on Friday interest will be kept up. So we may see a flat CI this week with a slight upside bias.


CI Futures - are also rising slowly. It is tracking the CI & at 951 is almost the same as the CI. There is strong resistance at 959. RSI & MACD are rising very slowly. Friday h'ever gave a spinning top candlestick formation. Nothing to be particularly worried about but if it opens below 951 Monday & closes below this then maybe a reversal will be indicated, then support is at 940 & 933. I believe interest will be kept low until the conclusion of the Budget on Friday.