As indicated by A, the KLCI breaks above the 1450 resistance level with a daily higher reaching 1467.78 point, and marked another all time high on Friday. As mentioned in yesterday's analysis, the KLCI formed an Ascending Triangle, and now break out from the Ascending Triangle. Therefore, the EMA is still continue serving as the dynamic support for the KLCI, and the KLCI is likely to resume its uptrend.

As indicated by B, total market volume increased 50.8%, and breaks above the 40-day VMA level marginally. Although total market volume is still relatively low, the increase of volume on Friday is still a positive signal for the KLCI. If volume should remains above the 40-day VMA level, chances for the KLCI to continue its bullish movement would be greater.

As circled at C, the Stochastic is still showing a short term bullish signal. Therefore, provided that the Stochastic is still staying above the 70% level, the market movement for the short term is expected to be bullish biased.

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