Composite Index ended slightly higher with a gain of 0.48 point, closing the Thursday trading at 923.05 points. As indicated by A, KLCI was again supported by the 10 days Bollinger middle band dynamic support. At the same time, the 10 days Bollinger band width opened 8% on Thursday indicating an increase of volatility. According to the historical data of KLCI, if the Bollinger band width continue to open wider, we shall see more upside movement for KLCI. (Study A)

As pointed by B, total market volume for the day stood at 4.79 million lots, and the total market volume for Thursday was able to stand above the 40 days VMA level, indicating that the market is still active. This is a crucial element to support any possible rally for KLCI , and we hope to see the total market volume staying above the 40 days VMA level in the coming trading days. (Study B)

WinChart RSI has finaly breached above the 70% level, entering the mid-term bullish zone. This is a good sign for it signals that the mid-term market sentiment has turn bullish. As long as we see the WinChart RSI staying above the 70% level, more upside movement for KLCI is expected. (Study C)

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