As indicated by A, the KLCI is now resisted by the 1450 level, and is likely to form a double top pattern. If the KLCI must break out from the 1450 level in order to continue its uptrend. Nevertheless, the 14, 21, 31 EMA is still serving as the dynamic support for the KLCI. is a also a chance for the KLCI to form an Ascending Triangle pattern. Any way, the resistance level for the Ascending Triangle is also at the 1450 level.

As indicated by B, total market volume on Wednesday was 27.1% lower, which is still staying below the 40-day VMA level. This clearly shows that the market participation is indeed very low, and the KLCI is less likely to pick its strength if the volume should remains below the 40-day VMA level.

As circled at C, the Stochastic %K line declines for the 2ndday, suggesting a short term technical correction signal. However, since the Stochastic is still staying above the 70% level, it suggests that the market movement for the short term is still bullish biased.

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