Despite the marginal intra-day break out, the KLCI closed below 990 points at 989.34 points; therefore, the 990 or 991 level is still the resistance level for the KLCI. Currently, the KLCI is still under consolidation. Mean while, the 14, 21, 31 EMA remained rising while continue serving as the dynamic support to the KLCI. As long as the KLCI is still supported by the rising EMA, the uptrend of the KLCI is still intact. (Study A)

Total market volume continue declining as the KLCI continued its consolidation. Still, volume managed to stay higher than the 40 days VMA level suggested that the market participation as a whole was still relatively active. Of course, more volume is needed if the KLCI were to break out from the 991 resistance. (Study B)

Not much change on the Stochastic as it is still situated above 70% in the short-term bullish region. Therefore, the market movement for the short-term is likely to stay bullish until the Stochastic fell below 70% level. (Study C)

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