Update: KLCI & CI Futures

Some of my stock data downloaded from my data provider has been corrupted so I am unable to post individual stocks today. However, the indices are fine.

1) KLCI- despite some earlier signs that the CI was due for a correction, it hasn't happened. Based on the charts, it is still in a positive mode. Crucially it is still above the 940 support, its within the confines of the upper band of the BollingerBand (in purple) & staying there & the BB is still rising. H'ever the BB is starting to narrow. This can prelude a minor correction or if prices burst out upwards, then it can be the start of the next run upwards. Daily RSI is flat & MACD has made a negative cross down. H'ever the weekly RSI & MACD are positive. Hmmm, what can we make of this? Difficult to say. If it breaks below 938 (the BB support) then a correction will happen, but if it continues to stay above 940, then the BB will probably narrow & then burst upwards for the continuation of the run. At the moment anything can happen & there is no clear-cut direction.


2) CI Futures - just like the CI it is still staying positive. It is well within the upper BB which is still rising. It is also above the 5, 10 & 15-day MAV. Daily & weekly RSI & MACD are positive. Support is at 940 & resistance is 960. If it stays above 940 for another 2 days then I have to say it will be more bullish than bearish. But for now its still positive but barely so bec volumes have been very low the last few days.