As mentioned on yesterday’s analysis, KLCI indeed had a technical correction but amazingly supported by the T1 dynamic support. Therefore, T1 remains a crucial support line, as well as the 890.22 points of the WinChart automatic Fibonacci Retracement. As for the resistance, it is still located at 899.89 points of the WinChart automatic Fibonacci Retracement line. (Refer to A) 

As shown in B, total market volume has again decreased 17.4% while still standing above the 40 days VMA. Nonetheless, if KLCI were continue its upward momentum, market volume higher than the 40 days VMA is imperative. 

Despite the flamboyant performance of KLCI lately, WinChart RSI has never shown any sign of bullish market sentiment. Nevertheless, WinChart RSI is currently located slightly above the 50% level, mid-term neutral zone, giving no clear signals of any bullish market sentiment.

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