On Thursday, the KLCI rebounded 4.78 points to 1355.62 points. As indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI, and therefore, the KLCI uptrend remains intact. Immediate resistance for the KLCI is seen at 1368.87, while the 1332 is still an important support level for the KLCI.

Total market volume increased 12.6% on Thursday; however, it is still below the 40-day VMA level. Therefore, the overall market participation is still relatively low. Nonetheless, if the KLCI was to resume it uptrend by breaking above the 1368.87 resistance, volume must increased significantly to conform the break out. (Study B)

The Stochastic %K line rebounded into above the 70% level, and re-entered the short term bullish region. If the Stochastic should remain above the short term bullish region, the market movement for the short term is likely to be bullish biased. (Study C)

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