FBMKLCI Technical Analysis
- FBMKLCI opened and traded higher on Apr 22, 2019, but it closed near to open price.
- It never trades below Support line @ 1618.22 in past trading days. Based on FBKLCI trading volume and a gap up on Apr 24, 2018, markets seen like becoming more reasonable toward FTSE Russell's report and local economic outlook.
- After FBKLCI tested Support line @ 1618.12, we believed it completed downward wave 5 and overcome a short-term downward trend accordingly.
- MACD signal and RSI turned bullish and heading to level 80 respectively which are supported by higher trading volume. Furthermore, FBMKLCI traded slightly above EMA 20
- As a conclusion, It might able to challenge close 1st gap down on Mar 22, 2019
- Resistance R2: 1709.17
- Resistance R1: 1654.26
- Support S1: 1633.70
- Support S2: 1618.32
USDMYR Technical Analysis
- Ringgit started depreciation against USD on Mar 21, 2019, and completed W bottom on Apr 8, 2019.
- After a strong USDMYR appreciation trend, it stopped at 4.1450 on Apr 18, 2018, with bearish engulfing patterns on Apr 19, 2019.
- We believe USDMYR will enter a consolidation phase in the coming week.
- Resistance R1: 4.1450
- Support S1: 4.1250
- After 2 months of deflation, Malaysia inflation rate become inflation @ 0.2 as per expectation due to the higher Brent Crude oils price level.
- CPI increased by 0.2 percent as compared to February 2019. It was mainly supported by the index of Transport (+2.6 percent), Miscellaneous Goods & Services (+0.4 percent) and Furnishings, Household Equipment & Routine Household Maintenance (+0.3 percent).