On Monday, the KLCI ended slightly higher to close at 1378.69 points. As shown on the chart above, the 1391.57 remains a resistance for the KLCI while, as indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI. Therefore, the outlook for the KLCI remains bullish biased. (Study A)

Total market volume increased 2.7% on Monday, with the volume remains above the 40-day VMA level. If the volume should continue increase and staying above the 40-day VMA level, it would be a sign of improvement of the market confidence, and chances for the KLCI to test the 1391.57 resistance would be higher. (Study B)

As circled at C, the Stochastic %K line breaks above the 70% level and triggered an unconfirmed short term bullish signal. If the Stochastic %D line should break above the 70% level, it shall confirm the %K line signal, and the market movement for the short term would be bullish biased. (Study C)

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