KUALA LUMPUR: The FBM KLCI hovered near weekly highs following the previous day's rally triggered by US President Donald Trump stepping back from the tariff threats on Europe.
As investors pressed pause on the rally to digest recent gains, the bechmark index slipped back 1.3 points to 1,715.84 at 9am.
TA Securities said the technical indicators are strengthening, pointing to further gians in the local benchmark, underpinned by firmer regional sentient.
"Immediate resistance is capped at the October 2015 high of 1,727, with next upside hurdle coming at the 123.6%FP (1,759), followed by tougher resistance at the 138.2%FP (1,804). Immediate support stays at the September 2016 low of 1,645, with stronger support coming from the 76.4%FR (1,610)
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