The KLCI ended 6.96 points higher on Thursday, closing at 1359.37 points. As shown on the chart above, the KLCI is still consolidating between the range of the 1332 support and the 1368 resistance. Meanwhile, as indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support.

Total market volume on Thursday increased 4.2%. However, as indicated by B, the total market volume remains below the 40-day VMA level, suggesting that the overall market participation is still relatively low. If the KLCI should test or attempt to break the 1368 resistance, the current volume would be insufficient. (Study B)

As circled at C, the Stochastic %K rises and breaks above the 70% level marginally. If the %K line should break above the 70% level successfully, it would be another short term bullish signal. If the %D line could rises to above the 70% level, it shall confirm the %K short term bullish signal. (Study C)

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