KLCI ended higher on Monday, closing 10.09 points to 1158.85 points. As shown on the chart above, the 1121 is the immediate support for the KLCI and the rising 14, 21, 31 EMA shall remained serving as the rising dynamic support to the KLCI. Provided that the KLCI could be supported by the rising dynamic support, the outlook for the KLCI remained bullish bias. (Study A)

Total market volume for the day increased 1.9% with around 140.8 million shares traded. As pointed by B, total market volume remained above 40 days VMA level, suggested that the market participation is still active. If the volume could stay above the 40 days VMA level, the bullish sentiment is likely to sustain. (Study B)

As circled by C, both %K and %D lines of the Stochastic are still situated above 90% level, which is the over-bought region. This suggested that the KLCI movement was indeed bullish, but it also suggested that a technical correction is still due to take place. Nevertheless, with Stochastic staying above 70% level, the market movement for the short-term is still bullish. (Study C)

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