As show on the chart above, the KLCI ended higher on Friday, touching yet another all time new high at 1363.40 points. Meanwhile, as indicated by A, the 14, 21, 31 EMA remained rising while still serving as the dynamic support to the KLCI. Since the KLCI is making new high, it has not shown any resistance level, but the 1332 level is now the support level.

Although the KLCI ended higher after successfully breaking above the 1332 important psychological resistance level, total market volume remained below the 40-day VMA level. Therefore, this suggests that the overall market participation is still insufficient, thus the sustainability of the KLCI uptrend is less reliable. (Study B)

MACD histogram continue rising and therefore the rounding bottom signal remains intact. Also, the rising of the MACD histogram suggests a weakening of the bearish signal. Therefore, provided that the MACD histogram is still rising, the short term movement for the KLCI is likely to improve. (Study C)

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