The KLCI ended mixed on Wednesday, with a narrow daily fluctuation. As shown on the chart above, the 14, 21, 31 EMA remained on the rise, and continue serving as the dynamic support to the KLCI. Therefore, no bearish signal is seen at the moment. Still, the important resistance is at 970.49 Fibonacci Retracement. (Study A)

As pointed by B, total market volume for the day improved 14.2% and getting closer to the 40 days VMA level. If the total market volume could break above the 40 days VMA level, it would suggest that the market participation is relatively sufficient. Furthermore, an increase of the market volume also suggested the increase capital inflow to the market and it shall promote the performance of the KLCI as a whole. (Study B)

Based on the Stochastic, both lines (%K and %D) are still situated above the 70% level in the bullish region, and therefore, the market sentiment for the short-term is still on the bullish bias. (Study C)

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