Friday, July 22, 2011

Weekend Rest

The plan for Greece is sending markets higher across the board, with Nikkei up more than 1.2%, Hang Seng Index +1.7% and China 0.18%, following the pattern from Wall Street.

FBMKLCI close lower but managed to put out a higher high and higher low. Possibility market players taking profit as market take a break for a weekend. Traders attributed due to listing of Bumi Armada.

Technically, the market is recovering with 20 MA is flat while rate of fall of 10 MA slowing down. The index is testing the 61.8% fibo retracement at 1570.



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