KLCI continued its consolidation, ended the Friday trading mixed at 1308.20 points, up 1.01 point. As pointed by A, the 14, 21, 31 EMA is still serving as the dynamic support, and if the KLCI could be supported by the rising dynamic support, the uptrend remained intact. Still, the 1332 level is the next major resistance level.

As pointed by B, total market volume for Friday stood at 203.77 million shares, and it was below the 40 days VMA level. This suggested that the market participation was still insufficient. However, since the KLCI is still consolidating, and the lower volume would suggest a healthy consolidation. Nevertheless, if the KLCI was to resume its uptrend and retest the 1332 resistance level, more volume is needed. (Study B)

As circled by C, Stochastic remained at the border line of 90% level, suggested that the short-term movement for the KLCI was still slightly over-bought, despite the %K technical correction signal. Nonetheless, if the Stochastic could stay above 70% level after this consolidation, the market movement for the short-term is likely to be bullish bias. (Study C)

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