Market Outlook (June 14th - 18th)


Current Trend : Recovering from a Downtrend

Support 1 : 1294
Support 2 : 1244
Resistance 1 : 1303
Resistance 2 : 1324

Observation : The market is still recovering from the recent downtrend. The resistance level of 1303-1304 which is also coincides with the 100 day MA are being tested with a close support level at 1294. The index now is trending above the 20 day MA and this shows positive reactions towards the market correction since the last few weeks. MACD signal line is also moving towards the positive range. This week will be interesting since Dow Jones recorded a gain of 0.38% last Friday. If everything goes well, we can see our market in the uptrend again, soon.

Notes : As of the publication of this post, the FBMKLCI has reached 1297 in the morning trade.

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