The FBM KLCI closed 0.79 points higher at 1510.58 thanks to some late buying after spending most of the day in negative territory. Profit taking continued as the index closed lower from its intraday high of 1512 points.
Technical indicators were flat with the RSI hovering in the neutral zone while the MACD moved sideways above its signal line. The FBM KLCI’s long term uptrend remains intact as it is still above the 9-day to 50-day SMAs but if it falls below the 1500 psychological level, the long-term uptrend will be violated. The bulls’ effort to re-test its all time high of 1532 points is still being pressured by continuous profit taking.
The immediate support is pegged at 1500 level followed by 1480.
PTC-Useclix
PTC-Clixsense
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