The KLCI ended higher on Thursday, gaining 2.56 points to 968.88 points. As pointed by A, despite the insignificant intra-day breakout, the KLCI remained resistance by the 970.50 resistance, and therefore the 970.50 or the 970.79 Fibonacci Retracement remained as the immediate and important resistance level to the KLCI. (Study A)

As pointed by B, total market volume for the day gained another 10.1%, and at the same time, total market volume managed to break above the 40 days VMA. This suggested that the market participation is now relatively sufficient and, in general, provided that the volume could stay above the 40 days VMA level, chances for the KLCI in breaking the 970.5 resistance level is likely to increase. (Study B)

Both %K and %D continued situated above the 70% level, which is the short-term bullish region. Provided that the Stochastic could stay in the bullish region, market sentiment for the short-term is expected to be bullish bias. (Study C)

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