On Wednesday, the KLCI continued its upward movement, closing the day 14.49 points higher to 1271.31 points. As pointed by A, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI while the immediate resistance remained at 1287.15 points. If the KLCI could break above this resistance, the KLCI may resume its uptrend. However, if the KLCI failed to break above this resistance, there is a chance of forming a double top. (Study A1)

Total market volume increased 41.8%, with over 2.56 billion shares traded. Mean while, volume also managed to touch above the 40 days VMA level, suggested an increased and sufficient of the market participation. Still, the continuity of volume staying above the 40 days VMA level is the crucial element to the upward sustainability of the KLCI. (Study B)

MACD histogram was almost unchanged on Wednesday, and if the MACD histogram could tick up, it would end the rounding top signal, suggested that the bullish signal is regaining its strength. In other words, if the MACD histogram continued ticking higher, the short-term movement for the KLCI is likely to turn positive. (Study C)

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