KLCI inched up slightly higher again on Friday, closing 1.44 points higher to 1278.92 points. As pointed by A1, the KLCI is still testing the 1285.15 resistance level, while the 14, 21, 31 EMA (As pointed by A) is still serving as the dynamic support.

But still, to break above the 1285.15 level successfully, we need more volume to sustain the KLCI. Without sufficient market participation, the KLCI is not likely to take out this strong resistance.

As pointed by B, total market volume declined another 14.8%, with only 147 million shares. Total market volume also staying below the 40 days VMA level, suggested that the market participation is relatively insufficient. Therefore, without sufficient of market force, the sustainability of the upmove is still questionable. (Study B)

As circled by C, MACD histogram continued ticking lower, suggested that the bullish MACD signal is still losing strength. Nevertheless, with the MACD line still staying above the trigger line, the MACD has not triggered any bearish signal. (Study C)

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