The KLCI ended higher on Thursday with a 3.64 points gain. As indicated by A, the KLCI remained in the congestion area of the 14, 21, 31 multiple exponential moving averages, while the EMAs were basically still moving flat. (Study A) As a result, resistance for the KLCI is still at the EMAs and the support remained at 903.96 Fibonacci Retracement.

As pointed out by B, total market volume for the day increased 34.9% with around 600 million shares. In addition, volume was gradually closer to the 40 days VMA (Volume Moving Average) level suggested in improved market participation, relatively. (Study B)

Despite an over-bought signal from the Stochastic %K on Wednesday, %D continued rising. At the moment, Stochastic stayed above the 70% bullish region suggested a bullish market sentiment in the short-term. (Study C)

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