Bullish market but caution is advised on potential risks with the looming threat of a US recession and geopolitical tensions while "Investors tread cautiously"
The FBM KLCI maintained its ascension to close at almost the 1,750 level or around a 2-month high.
Persistent late accumulation on index-linked laggards by foreign funds has been a feature of late rendering the local bourse quite well supported at current levels.
Nonetheless, it is highly expected that an intermittent correction may emerge anytime soon hence we anticipate the index to hover within the 1,740-1,760 range today.
Technical View: JPG (5323)
Resistance levels are identified at RM1.95 (R1) and RM2.00 (R2). Support levels are pegged at RM2.85 (S1) and RM1.80 (S2).
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