Market Outlook as at July 24, 2012

FBMKLCI is now testing its medium-term uptrend line at 1628-1630. I expect a rebound from this level. Failure to do so could send the index to the horizontal line at 1608 & the psychological 1600 mark.


Chart: FBMKLCI's daily cahrt as at July 24, 2012_10.20am (Source: Quickcharts)