Composite Index broke a 62 months new high at 843.72, while closing the day at 931.33, which is around the 940 psychological level. Immediate resistance level is still at 940 level, while the support for KLCI remains at W1 dynamic support line. Mean while, 10 days Bollinger Bands contracted 11% on Tuesday's trading indicating no clear signal for KLCI. Nevertheless, since KLCI is still situated above the middle band, immediate outlook for KLCI remains bright. (Study A)

Total market volume on Tuesday stood at 4.96 million lots, exactly at the 40 days VMA level. As mentioned many times in our previous analysis, volume at this level is still not substantial to give any support for KLCI to break out above the 940 level. Furthermore, notice a volume divergence showing that the overall market volume was generally shrinking. (Study B).

Although MACD line is staying above the zero level, there is a slight decrease in it's upward momentum recently. Should the MACD line fail to move higher, it might cross below the trigger line in the near future. If MACD line crossed the trigger line from above successfully, a sell signal is triggered; until then, no confirmation of any sell signal at this moment. (Study C)

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