On Monday, the KLCI broke out above the 1121 resistance, ended the day 8.08 points higher to 1127.41 points. Therefore, the immediate support is at 1121, and in order for a valid break out, the KLCI shall not fall below 1121 level. Mean while, the 14, 21, 31 EMA is still rising, continue serving as the dynamic support to the KLCI. Provided that the KLCI is still supported by the dynamic support, the outlook for the KLCI is still positive bias. (Study A)

Total market volume on Monday added 28.8%, with around 15 million shares traded. The increased of volume helped the KLCI is breaking above the previous 1121 resistance. At the moment, if the volume could maintain its level above the 40 days VMA, the bullish sentiment shall continue. (Study B)

As circled by C, both %D and %K lines are still situated above 70% level, therefore, this suggested a bullish short-term movement. The short-term bullish movement is expected to continue until Stochasti fell below 70% level. (Study C)

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