0042 GMT [Dow Jones] KLCI may ignore mild pullback on DJIA Friday (down 0.2%) and extend recent gains after breaking through stiff psychological resistance at 1,200 Friday, say dealers. "Despite the low volume (Friday), the weekly market internals are still strong and confirm the resumption of the uptrend which started since March 2009. Technical indicators are all in bullish position. Both RSI and MACD are hooking upwards," says MIMB. Dealers say interest in finance, construction, oil & gas and property stocks likely to keep market buoyant; do not discount possibility of KLCI breaching 2009 high of 1,210.36 and rising to 1,216 (April 2008 trough). On downside, initial support at 1,200.
Dow Jones Newswires
September 13, 2009 20:42 ET (00:42 GMT)
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