KLCI technically corrected 0.12 points, closing the day at 1306.22 points. Currently, the 1285 level is still the immediate support level where the 14, 21, 31, as pointed by A, is still serving as the dynamic support. If the KLCI could rebound from the rising dynamic after its correction, the uptrend would resume. (Study A). Nevertheless, the 1332 level remained as a strong psychological resistance level for it was the all time high of the KLCI.

Total market volume declined 4.1% on Wednesday, with over 230 million shares trade. Volume was at the border line of the 40 days VMA level, as pointed by B. However, it is usually normal to see a declined in volume when the KLCI is correcting. Nevertheless, if the KLCI was to resume its uptrend, volume staying above the 40 days VMA is the crucial criteria. (Study B)

As pointed by C, Stochastic is situated above 90% level, which is the short-term over-bought region. If the Stochastic fell below 90% level, it would be a signal of the short-term technical correction. If the Stochastic could remained above 70% level after a possible correction, the short-term market movement for the KLCI remained bullish bias. (Study C)

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