KLCI broke out above the 1285 level, closing the day 19.44 points higher to 1298.36 points and market another multi-year new high. Therefore, the KLCI must stay above the 1285 level successfully for a valid break out, thus the 1285 level shall serve as an immediate support.

Mean while, as pointed by A, the rising 14, 21, 31 EMA shall continue serving as the dynamic support to the KLCI. Of course, not to miss out that the immediate resistance for the KLCI would be 1332.04 level, which was the highest level ever.

Monday's break out was supported by an favorable increased of market participation, with over 210 million shares. However, as pointed by B, total market volume is still below the 40 days VMA level, which signal a lack of market confident. Therefore, if the volume could pick up to above the 40 days VMA level, it would help to sustain the bullish market sentiment.

As indicated by C, the MACD histogram ticked up on Monday. If the MACD histogram continued rising, it would signal an resume strength of the bullish signal. Nevertheless, provided that the MACD line is still rising above the trigger line, the MACD bullish signal shall remained intact. (Study C)

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