Despite the early losses, the KLCI regained its position, closing the day 2.85 points higher to 1247.17 points. As pointed by A, the 14, 21, 31 EMA remained as the dynamic support to the KLCI. Mean while, the 1216 1220 level is still the immediate support to the KLCI. 1285.15 would be the next resistance for the KLCI.

Total market volume increased 28.6%, with over 231 million shares traded. However, it is still at the border line of the 40 days VMA level. Therefore, the sustainability of the bullish sentiment is still doubtful. (Study B)

As circled by C, the MACD histogram remained rising, suggested that the bullish signal is still in control. The short-term bullish signal is expected to continue until the histogram formed a rounding top, which would be a technical correction signal. (Study C)

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