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On Wednesday, the Composite Index ended mixed, giving up 0.13 points to 924.24. As shown on the chart above, the KLCI had a minor correction after the rebound from T3. Mean while, 10 days Bollinger band width contracted 18%, suggested that the KLCI direction is still unclear or still consolidating. (Study A) Nonetheless, resistance for the KLCI is still at 931 level while the support is at the T3 dynamic support.

As indicated by B, total market volume on Wednesday decreased 6.2%, stood at 846 million shares. However, the market volume remained above the 40 days VMA level, suggesting that the current market participation is relatively active. In generally, if the market volume could stay above the 40 days VMA, market outlook would likely be on the positive bias. (Study B)

Despite the minor correction on Wednesday, %K of the Stochastic remained above the 70% in the short-term bullish region. At the same time, the %D line is advancing gradually and getting closer to the 70% level. If the %D line could break above the 70% level, it would confirm the %K bullish signal, thus market sentiment for the short-term is likely to stay bullish. (Study C)

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