KUALA LUMPUR: Bursa Malaysia is expected to continue moving in a sideways trajectory ahead of further signals from the US Federal Reserve on their next interest rate move.
Apex Securities Research said the FBM KLCI is expected to trend sideways in view of the lack of surprises from corporate results, with falling US Treasury yields cushioning the downside amid expectations of cooling inflation.
From a technical view, the research firm said the FBM KLCI ticked mildly lower as the key index hovered below the middle Bollinger bands.
"Indicators remained weak as the MACD Line lingered below the Signal Line, while the RSI remains below 50. The downward bias consolidation may extend with resistance located at 1,465. Support is pegged around 1,435," it said in a note.
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