Observation from Chart:
SKPETRO (5218) retest strong support RM1.67 level again.
Will it technical rebound? Or break the RM1.67 support?
Other indicator:-
MACD trade at negative region, downtrend sign.
Stochastic %K on oversold stage, pending trigger BUY call.
Immediate support @ RM1.67 level.
Subsequent support @ RM1.37 level.
Immediate resistance @ RM1.84 level.
Subsequent resistance @ RM2.00 level.
Due to crude oil price break USD30 psychology support level, this might be impact SKPETRO performance.
Let's watch closely crude oil price for rebound opportunity.
Market forecast for KLCI
ReplyDeleteThe KLCI index is expected to trade with bullish sentiments in coming trading session however the level of 1634 can hold the bullish movement and can bound the market to give a sideways movement.
Market Review for KLCI
The FBM KLCI index gained 6.58 points or 0.41% on Tuesday. The Finance Index increased 0.53% to 13683.57 points, the Properties Index up 0.90% to 1143.81 points and the Plantation Index rose 0.19% to 7519.29 points. The market traded within a range of 10.74 points with high of 1632.60 and a low of 1621.86.
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