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Thursday, June 10, 2010

KLCI Daily chart analysis - 10062010

KLCI movement commentary
KLCI is consolidating between 1285 - 1295 level after strong rebounded from the recent low of 1244, it's trying to test 1300 level and the KLCI will only turn bullish after breaking the middle line of Bollinger bands. Otherwise it may retreat to 1244 level as aligned with current Bearish view. Market tends to move sideway until further fresh news to lead the direction.

Strategy
Cautious, Sell/Short into strength, reduce stock holding level.
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