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Composite Index ended higher on Friday, gaining 2.71 points to 905.41 points. As shown on the chart above, the KLCI is trending in the up trend channel with the T1 as the dynamic resistance and T2 as the dynamic support. Mean while, the KLCI was also resisted by the 907 WinChart Automatic Fibonacci level. Additional resistance for the KLCI is seen on the 914 level while the important support level remains at the 900 psychological level. (Study a)

Total market volume on Friday increased 23.2%, at 573 million shares. This increase of market volume suggests that the market is still actively participated. As long as the total market volume can stay above the 40 days VMA (Volume Moving Average) line, the KLCI is likely to rally again after the healthy consolidation. (Study B)

WinChart RSI, on Friday, rebound slightly, but nonetheless, it is still situated in the mid-term neutral region suggesting the market sentiment for the KLCI is at neutral with a mild bullish bias. (Study C)

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