KLCI ended higher on Thursday, gaining 30.48 points to 1187.06 points. As pointed by A, the KLCI is now testing the 14, 21, 31 EMA resistance. If the KLCI was to break above this resistance, a significant increased in volume is needed to confirm the break out. Nevertheless, the 1105.40 Fibonacci Retracement is still the current support level for the KLCI.

Total market volume for Thursday decreased 26.3%, and failed to break above the 40 days VMA level. This shows that the market participation was relatively insufficient, and therefore, failing to support the KLCI is testing the resistance. Therefore, if the KLCI break out the resistance with low volume, the validity of the breakout would is less significant. (Study B)

Stochastic %K rose on Thursday and now testing the 50% level. If the %D could break above 30% level, it shall confirm the %K signal, and the KLCI short-term movement would turn from bearish to neutral. (Study C)

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