As shown on the chart above, the KLCI remains in its sideways movement between the 1391.57 resistance and the 1332 support level. Meanwhile, as indicated by A, the KLCI is still supported by the 14, 21, 31 EMA, which is still serving as the dynamic support to the KLCI. Until the KCLI can break out from the trading range, the direction for the KLCI remains sideways. (Study A)

Total market volume on Thursday declined 3.8%, with volume barely touching the 40-day VMA level. If the KLCI should test the 1391.57 resistance and resume its uptrend, the increase of volume to above the 40-day VMA level is a must. (Study B)

As circled at C, the Stochastic is still situated in the 50% level, which is the short term neutral region. This suggests that the market movement for the short term is at neutral. (Study C)

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