KCLI touched the 1000 mark for the 1st time in 6 years with an intraday high at 1000.06 points. However, the KLCI soon retreated and closing slightly below the 1000 mark at 998.02 points. Therefore, the 1000 level is now the immediate resistance to the KLCI while the rising 14, 21, 31 EMA remained as the trailing support. (Study A) As long as the KLCI is supported by this trailing support, the outlook for the KLCI is likely to stay positive.

Despite the KLCI reaching 1000 points, volume on the other hand did not show any improvement. At the moment, volume remained above the 40 days VMA level, suggested that the market was still relatively active; however, if the KCLI were to break above the 1000 points, a more significant volume growth is needed. (Study B)

Stochastic remained situated above the 70% level in the short-term bullish region. Therefore, this suggested that the market movement for the short-term is still bullish. Provided that that Stochastic could maintain its position above the 70% level, short-term market movement is expected to stay bullish. (Study C)

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