With overnight US Dow Jones closed up 107.66 @ 17792.75; we expect to see market open higher on Monday.
We see immediate resistance for KLCI Index at 1725. Next target-1750. Market might try to test the psychological support at 1700, further down 1675 is the next support.
There is no trading for Hong Kong and China market on Monday. Depending on how other Asian markets perform on Monday and how US behave on Monday closing, we see resistance for Hang Seng Index at 20900. If market can break above this level, we might see 21000 to 21300. On the downside, supports at 20300 and 20100. If market unable to hold above 20000, we might afraid short term will see 19800 or lower.
No matter how the market moves, we hope we will exercise our risk management strategy and never be afraid to buy during bargain hunting.
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