KUALA LUMPUR: The FBM KLCI trended lower in early morning trading as traders awaited a spark to reignite buying momentum.
TA Securities said stocks are expected to consolidate with a downward bias as as investors adopt a wait-and-see approach with key US economic data scheduled for release later this week.
"Immediate support stays at the September 2016 low of
1,645, with stronger support coming from the 76.4%FR (1,610) followed by the 61.8%FR (1,564). Immediate resistance is kept at the October 2015 high of 1,727, with next upside hurdle coming at the 123.6%FP
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