KLCI ended marginally higher on Friday, closing at 1120.40 point. As shown on the chart above, the 14, 21, 31 EMA continued rising while still serving as the dynamic support to the KLCI. Provided that the KLCI is still supported by the rising dynamic support, the immediate outlook is still positive bias.

Total market volume declined 7.8%, and failed to stay above the 40 days VMA level. Therefore, the overall market participation was still relatively weak. The sustainability of the bullish sentiment is highly depended on the continuity of the inflow of market capital, hence, the volume above the 40 days VMA is imperative. (Study B)

Both %D and %K of Stochastic are still above 90% short-term over-bought region, suggested that the KLCI is still due for a technical correction. Nevertheless, provided that the Stochastic could remained above 70% level, the short-term market movement for the KLCI remained bullish bias. (Study C)

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