KLCI continued moving sideways for more than 1 week, and on Thursday, the KLCI ended higher, gaining 2.67 points to 930.45 points. As indicated by A, the KLCI was still resisted by the 10 days Bollinger middle band dynamic resistance. Mean while, Bollinger Band width further contracted 32%, suggested that the KLCI was still at a consolidation. (Study A)

Support for the KLCI is still at 926 Fibonacci Retracement while the immediate resistance is seen at the 10 days Bollinger middle band dynamic resistance and the next resistance would be the resistance at 954 level.

Total market volume for the day remained low, with only 454 million shares. As shown on the chart above, volume remained below the 40 days VMA (Volume Moving Average) suggested that the market was lack of buying interest, thus inflow of fresh capital was low. Therefore the market movement likely to stay weak with the volume below the 40 days VMA. (Study B)

As circled by C, %K of the Stochastic has broken above the 30% level, which suggested an end to the short-term bearish sentiment. Provided the %D could also break above the 30% level, it shall confirm the %K signal. Nevertheless, at the moment, Stochastic suggested a short-term neutral market sentiment. (Study C)

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