As on 26 August 05, KLSE Composite Index closed at 918.38.
There was some minor support on this day which managed to avoid the index slipping below 915 point. Anyway, there was just not enough power and the last few day candlestick pattern still shows that its on short-term bearish mode.
With the negative signal of RSI, MACD, Money Flow Index & Stochastic Oscillator, I expect the bearish trend (since 04 Aug 05) to continue or sideway at best. Its likely the support/rebound at 915 couldn't hold which leave 905 point at the likely level to consolidate. I believe the much waited pivot zone will be around 895-905. This level is also the impotant level to determine the continuation of the bullish medium-trend in the near term; as long as the level still hold, the double-bottom bullish pattern and also the Andrews Pitchfork channel zone still 'on'.
Watch for 915 point. (likely to be violated) and 905-895 point (a very likely zone for a change of trend).
