KLCI rebounded 7.64 points on Monday, closing at 1177.53 points. At the moment, the KLCI is still consolidating above the dynamic support (pointed by A), and provided that the KLCI could remained its position above the rising dynamic support (14, 21, 31 EMA), the outlook for the KLCI is likely to stay positive bias. Immediate resistance for the KLCI is still at 1191.53 points.

Total market volume on Monday declined 2.4%, but still remained above the 40 days VMA (Volume Moving Average) level. This suggested that the overall market is still well-participated. Therefore, if the KLCI could remained supported by the rising dynamic support with the volume sustaining above the 40 days VMA level, the bullish sentiment is expected to continue. (Study B)

Stochastic %K rebounded on Monday after breaching below the 70% marginally. As circled by C, both %K and %D are still situated above 70% level, which is the short-term bullish region. Therefore, provided that the Stochastic could remained above 70% level, the short-term market movement is still bullish. (Study C)

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