Regional market traded higher after confident restored due to the Dubai debts panic forced FKLI to opened gap up and traded mostly higher trough out the morning session ended 3.5 points higher to closed at 1272. Price hovering near the upper Bollinger band level with the band width expanding = Market are likely to trade upward biased. However, the last MACD Histrogram recorded a lower reading = buying activities has yet to reach the optimum level. Broken up from the plotted downward channel with a new plotted upward trend line identified, the upward movement could sustain should more buying volume coming into the market or else market could still trade side way.
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