KUALA LUMPUR (Jan 17): The FBM KLCI is expected to continue moving sideways today and consolidate with support seen at 1,640 points, in line with overnight the retreat at most global markets. AllianceDBS Research in its Trading Pulse note Monday said that the weekly FBM KLCI had in the week ended Jan 13 traded higher to 1,682.74 before settling at 1,672.50 (down 2.99 points or 0.18%). It said following the down close, the weekly FBM KLCI is likely to move lower with immediate support at 1,662. “A fall below 1,662 would put pressure on the index down to the subsequent support at 1,640. AllianceDBS Research said the moving average analysis shows that the weekly FBM KLCI is in sideways as the 50- week MA line seen flattening out.

Source: The Edge Markets January 16, 2017 22:06 UTC