BURSA EXPECTED TO TREND HIGHER NEXT WEEK

Bursa Malaysia is expected to continue its positive momentum next week on the back of improved market sentiment and risk appetite, as concerns about global inflation and recession have toned down KLSE is forming ROUNDING bottom pattern. It may break resistance level 1485 in this week. It may go upto 1500 in this week. On the daily chart KLSE is in down trend. Primary trend is donw trend and secondary trend is up trend. RELATIVE STRENGTH INDEX is 56. There is strong resistance level at 1485. This level 1485 may break in this week. If it is break this level then it can go more upside. “The heavyweight stocks are starting to recover and our market sentiment is getting better, especially in finance “The stocks have led Bursa Malaysia to be in positive territory last week as FBM KLCI broke its 1460 resistance base within five trading days on Friday. It is an impressive performance.

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