KUALA LUMPUR: OSK Research said the immediate support for the FBM KLCI is at 1,505, followed by the 1,500 psychological level while to the upside, there is initial resistance at the 1,524-1,536 area.
In its technical outlook issued on Wednesday, Feb 23, it said it did not expect the KLCI to give back all of the 8.29 points gained on Monday.
'In fact, the index gapped down at the opening (on Tuesday), which was a surprise. Hence, the market remains stuck within the potential downtrend channel that we have drawn. This means there is still a possibility that the index may be creating a downtrend channel, especially since it has already created a lower high and lower low,' it said.
''
OSK Research said while watching if the index is in the midst of creating of a downtrend channel, it is sticking to its Neutral view.
In its technical outlook issued on Wednesday, Feb 23, it said it did not expect the KLCI to give back all of the 8.29 points gained on Monday.
'In fact, the index gapped down at the opening (on Tuesday), which was a surprise. Hence, the market remains stuck within the potential downtrend channel that we have drawn. This means there is still a possibility that the index may be creating a downtrend channel, especially since it has already created a lower high and lower low,' it said.
''
OSK Research said while watching if the index is in the midst of creating of a downtrend channel, it is sticking to its Neutral view.
No comments:
Post a Comment