trendprofiles

The 2012 trend in the KLSE composite has been mostly a consolidation with an upward slant, making into a bullish channel.  Though the trend comprises higher lows and bottoms, the 14-Day RSI -ve divergence is still a factor to ponder in case anyone holds a bullish call. While the price trend is currently making its bounce from its very own channel, the upper end of the channel of 17000 is a strong  resistance  should the price trend rally further.

For the short term the trend could remain positive, but this is one of the many times that one must not chase a rally.