With the FBM KLCI closing below its 1500 psychological support level and also below its short term moving averages, the short term trend has turned downward. Nevertheless, the medium to longer term trend still remained up. Immediate support level for the FBM KLCI is at 1479, 1474 and 1465 while the immediate resistance is at 1500.
Overnight, the Dow fell -142.21 points or -1.27% lower to close at 11,036.37. Today, the FBM KLCI is likely to trade within a range of 1460 to 1501.
This week's expected range: 1470 – 1525Today’s expected range: 1459 – 1501
Resistance: 1491, 1495, 1501Support: 1460, 1474, 1479
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