The KLCI rebounded 3.66 points on Friday to 1354.38 points. As indicated by A, the KLCI is testing the 14, 21, 31 EMA, if the KLCI remains below the 14, 21, 31 EMA, the outlook for the KLCI is likely to turn bearish biased. Nevertheless, the 1332 level is the next support level for the KLCI.

Total market volume on Friday increased 5.3%. However, as indicated by B, total market volume remains below the 40-day VMA level, suggesting that the overall market participation is still relatively low. If the volume should remains below the 40-day VMA, the market sentiment is less likely to improve. (Study B)

Despite the rebound of the KLCI, the Stochastic is still showing a short term bearish signal. If the Stochastic should remains below the 30% level, the market movement for the short term is still bearish biased. (Study C)

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