FBMKLCI would probably stay above its immediate resistance turned support level of 1,415 for now

Major U.S. indices closed positively yesterday, up between 0.8% and 1.0% as the market reflected optimism after the European leaders provided a road map to tame the debt crisis and the Federal Reserve discussed further asset purchases.

I think the Malaysian bourse is likely to extend its gain today on the back of the positive vibes from the external markets. Our benchmark FBMKLCI would probably stay above its immediate resistance turned support level of 1,415 for now.

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