KLCI surpassed its all-time high of 1332

This morning, the KLCI has finally surpassed its all-time high of 1332, which was recorded on January 5, 1994. I've appended below the monthly chart for the 16-year period from Quickchart (Chart 1) as well as the daily chart from October 1993 to April 1994 from Tradesignum (Chart 2) for your viewing. As usual, this important point will likely act as a resistance to the current rally. At the time of writing this post (11.00 a.m.), the KLCI has already pulled back to 1327 from its morning high of 1334. How much will this pullback be? Given the recent sharp run-up, I believe that a 2-3% pullback is not unlikely.


Chart 1: KLCI's monthly chart as at April 16



Chart 2: KLCI's daily chart from October 1993 to April 1994