KLCI successfully rebounded at the 14 days EMA dynamic support, ended the day 4.1 points higher. At the moment, 14, 21 ,31 EMA remained as the dynamic support and if the KLCI could maintain above the EMA support, the uptrend should remain intact. ( Study A) Nevertheless, immediate resistance for the KLCI is at 950 level or T1 dynamic resistance of the up trend channel.

Volume on Thursday gained 13.2%, but still remained below the 40 days VMA level. In general, total market volume has to be higher than the 40 days VMA to confirm the rally or an uptrend. A rally or up trend with insufficient volume is, however, usually weak and unsustainable. (Study B)

As pointed by C, %K of the Stochastic rebounded and did not enter the bearish region. Current, with the Stochastic situated around the 50% level, market sentiment for the short-term is still at neutral. (Study C)

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