As indicated by A, the Bollinger Bands Width expanded 9%, which is slightly smaller if compared to the previous 18% expansion rate. This suggests that the Bollinger Bands Width might be contracting, and if the Bollinger Bands Width should contract, it would be a signal suggesting a consolidation for the KLCI.

As shown on the chart above, the KLCI had its daily low reaching 936.43 points, but it was supported by the 937 level before closing almost unchanged (+0.03 points). Therefore, the 937 level is still the support for the KLCI, while the Bollinger Middle Band and T1 uptrend are still the dynamic support. Resistance for the KLCI is at 972 WinChart Automatic Fibonacci Retracement.

As indicated by B, total market volume declined 3.1%, but still clearly above the 40-day VMA level. This suggests that the overall market is indeed actively participated, thus a positive sign for the KLCI. Generally, provided the volume is still above the 40-day VMA level, the uptrend of the KLCI is likely to sustain.

As circled at C, the MACD histogram is still rising, suggesting the short term movement of the KLCI is still improving. Meanwhile, with the MACD line above the zero level, the market movement for the medium and longer term is also improving.

All technical indicators are suggesting positive signals for the KLCI, and therefore, the KLCI uptrend is expected to continue provided that the positive signals remains intact. Currently, with the Bollinger Bands Width might be contracting, the KLCI movement is expected to be upside biased, with a slight chance of a mild consolidation.

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