As indicated by A, the KLCI remains resisted by the 1368 resistance level, and therefore, the KLCI is still consolidating between the range of the 1332 support and the 1368 resistance. Meanwhile, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI. (Study A)

Although the total market volume on Wednesday increased 8.1%, it is till further below the 40-day VMA level. This suggested that the overall market is still very quiet, and therefore, without the sufficient inflow of fresh capital, the KLCI is likely to stay in the consolidation stage. (Study B)

On Wednesday, the Stochastic %K line fell below the 70% level, ended its unconfirmed signal of the short term bullish signal which was triggered yesterday. Nevertheless, as indicated by C, the Stochastic %D line never break above the 70% level, and therefore, it did not confirm the %K signal. At the moment, Stochastic is still showing a short term neutral signal. (Study C)

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