KLCI continued its sideways movement on Thursday, ended the day mixed at 1076.68 points, up 0.38 of a point. As pointed by A, the KLCI was resisted again by 1080 level, and therefore, the 1080 is still the immediate resistance to the KLCI. Mean while, the 14, 21, 31 EMA are still moving closer to each others and the direction of these EMA were almost flat. Therefore, this suggested that the KLCI is still in a congestion zone.

Total market volume was 91.% lower on Thursday, and clearly below the 40 days VMA level. This suggested that the market sentiment was still weak, and therefore the KLCI is likely to stay sideways or negative bias. (Study B)

A circled by C, WinChart RSI remained at around the 50% level, suggested that the mid-term market movement for the KLCI is trendless. The sideways market is expected to continue provided that the WinChart RSI is still moving flat at the 50% level. (Study C)

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