The Composite Index ended marginally higher on Tuesday, gaining 0.22 points to 896.08 points. As shown on the chart above, the KLCI is now forming a possible pennant (small triangle) with the T1 as the dynamic resistance and the T2 as the dynamic support.

Similar to the symmetrical triangle, the pennant that the KLCI is forming is suggesting that the KLCI is consolidating. If the KLCI were going to break above the T1 line, it must be supported by stronger volume. Nonetheless, the 900 psychological resistance level remains a strong resistance for KLCI. (Study A)

Total market volume on Tuesday stood at 2.74 million lots, which was also touching the 40 days VMA level. Although it touched the 40 days VMA level, over all market volume as a whole, if compared to the whole year chart, still seems insignificant. However, as a generally interpretation, if total market volume is above the 40 day VMA level, it suggests that the market was actively participated, relatively. (Study B)

Both %K as well as %D lines are still situated in the neutral region. Therefore, the market sentiment for the short-term remains at neutral with a sight positive bias. (Study C)

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