(M) Sdn Bhd 

The Composite Index closed lower on Wednesday, easing 4.21 points to 909.59 points. As shown on the chart above, the KLCI pull-back from the recent over-heated situation after hitting the 914.3 resistance line. Support for the KLCI is now at the 10 days Bollinger middle band dynamic support. (Study A)

Total market volume on Wednesday stood at 808 million shares, suggesting that the market is still relatively active, thus the continuity of the rally is still likely. Provided that we see the KLCI staying above the middle band, higher market volume would sustain the bullish market sentiment. (Study B)

MACD histogram shown the first signal of a round top. This suggests that the KLCI is having a technical correction thus, market is likely to continue it's consolidation until the histogram resume its' upward movement. On the other hand, since the MACD line remains above the zero level, it suggests that the overall sentiment for the KLCI is positive bias. (Study C)

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