Technical view on KLCI:
From my previous sharing, market remained sideway but in near term likely to test the downtrend expansion channel upper line again. (Refer back to the previous market outlook post.) On 03/03/2016, market tested the upper line and breakout.
Currently, MACD showing negative momentum, we should not ignore the signal.
Additionally, market now having a bearish divergent where the price formed higher peak but MACD formed lower peak.
At the moment, market in uptrend testing support level 1708 and the next support level at 1672.
Overall market still flat as it within the range 1503 to 1744.
Thank you for your reading.
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