After a weak rebound (previous KLCI outlook at here) on 7th May 2010, as expected KLCI couldn't break the resistance at 1.350 pt. Already 2 days backtracking toward the minor support near 1315 pt. but I expect KLCI to get better toward end of the week. As at yesterday and morning session today, there are signs buyers (in a small scale) are coming back.
Anyway, the overall sentiment since the last few weeks is still the same. Although it expected to get better toward end of the week, I think KLCI will stay weak and keep on stalling within the range bound for a slightly longer time. Market participants are still in cautious mode. They should anyway with the unsolved financial crisis here and there.
The important support Ievel is still 1,300 pt and the resistance level 1,350 pt which both are significant zones to watch for further signal.
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