KUALA LUMPUR: The return of foreign funds after a week of net selling could extend the benchmark stock index's rally now it has crossed the 1,500 psychological level, says Apex Securities Research.
"Indicators are improving with the MACD Line edging higher above the signal line, while the RSI turns higher.
"Following yesterday’s bullish candle, the benchmark index could break above its recent high of 1,504. Support is pegged at 1,480," it said in its technical review.
However, the research firm maintained its view the market would remain range-bound as persistent inflation in the US could delay the the timing of rate cuts in the US.
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