As displayed on the chart, the Bollinger Bands Width expands with the KLCI staying above the Bollinger Middle Band, and therefore, the bullish signal for the KLCI continues. Since the KLCI managed to stay above the 1140 Fibonacci level, the 1140 WinChart Automatic Fibonacci Retracement line is now the immediate support for the KLCI. The next resistance for the KLCI is at 1172 (38.2% WinChart Automatic Fibonacci Retracement).

As indicated by A, the KLCI precisely resisted at the T1 downtrend line, and therefore, the T1 dynamic resistance remains intact. If the KLCI should break above the T1 downtrend line, it would end the downtrend which started in the middle of May.

As indicated by B, total market volume increased 95.7%, and the volume resumed to above the 40-day VMA level. This suggests that the market is well-participated, thus improved the market liquidity. Generally, if volume should remain above the 40-day VMA level, the KLCI movement is likely to improve.

As circled at C, the MACD continues rising, suggesting that the mid term market movement is slowly improving. Since the MACD histogram is above the positive region, this suggests that the market movement for the short term has turned bullish, and the short term bullishness is expected to continue until the MACD histogram forms a rounding top.

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