As indicated by A, the KLCI Bollinger Bands Width continue to expand another 48%, with the KLCI remaining above the Bollinger Middle Band; and therefore, the KLCI continues its upside movement, breaking above the 900 psychological level. 905 WinChart Automatic Fibonacci Retracement is now the resistance, while 885 to 887 WinChart Automatic Fibonacci Retracement is the support.

As shown on the chart above, the KLCI is still above the Bollinger Middle Band, and the bullish biased movement of the KLCI is expected to continue until the Bollinger Bands Width contracts, which would suggest the next consolidation of the KLCI. Generally, the Bollinger Middle Band would be the first target of the consolidation or a technical correction.

As indicated by B, total market volume increased 8.1%, while staying above the 40-day VMA level. This shows that the market participation is now relatively sufficient, thus a positive sign for the KLCI performance.

As circled at C, the MACD histogram and the MACD line are now breaking above the zero level, suggesting that the KLCI is still improving. Nevertheless, as long as the MACD histogram is still on the rise, the improvement of the KLCI is expected to continue until the formation of a rounding top.

The immediate outlook for the KLCI is now on the positive side, and provided that the volume should remain above the 40-day VMA level, the short term positive outlook for the KLCI is expected to continue.

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