The KLCI ended higher on Wednesday, closing at an all time high of 1386.27 points. As indicated by A, the 1368 level is the immediate support to the KLCI, and meanwhile, the 14, 21, 31 EMA shall continue serving as the dynamic support to the KLCI. If the KLCI should remain above the rising dynamic support, the outlook for the KLCI is expected to be bullish biased. (Study A)

Together with the rising momentum of the KLCI, total market volume increased 67.1% on Wednesday. Also, as indicated by B, total market volume also managed to break above the 40-day VMA level. If the volume should remain above the 40-day VMA level, the bullish sentiment is likely to sustain. (Study B)

On Wednesday, the Stochastic %D line breaks above the 70% level, confirming the %K line short term bullish signal. Therefore, the Stochastic is now showing a short term bullish signal, and the KLCI short term movement is bullish biased. (Study C)

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