As indicated by A, the KLCI managed to break above the 1368 level marginally, closing the day at 1372.38 points. If the break out is valid, the 1368 should become the immediate support level. Nevertheless, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI.

As indicated by B, total market volume on Wednesday increased another 19.5% with the volume slightly breaking above the 40-day VMA level. This suggests that the market participation is now relatively sufficient, and therefore, if the volume should remain above the 40-day VMA level, the sentiment for the KLCI is expected to improve.

As circled at C, the Stochastic is still showing a short term bullish signal while staying above the 70% level. Therefore, the market movement for the short term is now bullish biased.

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