The KLCI ended higher on Thursday with last minute gain, ended the day 2.70 points higher to close at 1046.51 points. As shown by A, the Bollinger Band width is still contracting, suggested that the KLCI is still in a consolidation, despite the KLCI made another multi-year new high. Mean while, when the Bollinger Band width is contracting, it also implies that the KLCI is gearing for the next movement. Nevertheless, provided that the KLCI is still being supported by the rising 14, 21, 31 EMA dynamic support, outlook for the KLCI is likely to stay positive.

Total market volume on Thursday declined 21.2% with around 1.03 billion shares traded. With the Bollinger Band in a contraction stage, the decline of volume is viewed as a healthy sign of correction. Anyhow, with the volume remained above the 40 days VMA level, the market participation is still relatively active. (Study B)

As circled by C, the MACD histogram continued ticking lower, and therefore, it suggested that the bullish signal is still weakening. However, at the moment, the MACD has not triggered any bearish signal. As soon as the MACD histogram could ticked up and formed a rounding bottom, the bullish signal would regain its strength. (Study C)

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