KUALA LUMPUR (Oct 25): The FBM KLCI is expected to extend its gains today in line with the overnight advance at most global markets, and gear towards the next resistance at 1,692. “But, the higher high with a crossover of 1,672 on Oct 24 was indeed encouraging given several unsuccessful attempts earlier to break the 1,672 hurdle on the upside. It said following the up close on Oct 24, the market should thus be gearing towards the next resistance at 1,692. “The analysis of overall market action on Oct 24 revealed that buying power was stronger than selling pressure. “As such, the FBM KLCI would likely trade above the 1,679.11 level on Oct 25,” said AllianceDBS Research.

Source: The Edge Markets October 24, 2016 21:45 UTC