As indicated by A, the KLCI breached above the 926.88 Fibonacci Retracement marginally, ended the day with an intra-day high at 928.23. (Study A) This break out is yet to be confirmed for the high of the day was only marginally higher than previous day's high. Nevertheless, with the 14, 21, 31 EMA rising, market outlook will continue to be bullish bias, and the EMA shall remain as the trailing dynamic support for the KLCI.

Total market volume on Wednesday gained 2.6%, with more than 1.08 billion shares. The growth of volume suggested a growth of market participation, thus will help the market to continue its improving sentiment. (Study B)

With the KLCI breaking the resistance, it pays to monitor the MACD histogram for an up tick, which would signal an end to the consolidation as well as a strengthen MACD bullish signal. Mean while, the MACD remained above the zero level, suggested that the market sentiment for the longer term is improving. (Study C)

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