As indicated by A, the Bollinger Bands Width stopped expanding on Tuesday (0%), suggesting that the KLCI is likely to consolidate. Nevertheless, the KLCI ended 12.30 points higher on Tuesday, closing at its daily high of 953.71 points. Support for the KLCI remains at 937 WinChart Automatic Fibonacci Retracement and the Bollinger Middle Band dynamic support; T1 uptrend line is also the dynamic support for the KLCI, while the resistance is at 972 WinChart Automatic Fibonacci Retracement.

As indicated by B, total market volume increased 27.1%, marking a 14 months volume new high. This shows that the current market is indeed well-participated, thus the market sentiment is likely to be positive. If the KLCI should consolidate, volume will generally decline, as investors are taking cautions while waiting at the sidelines. Nevertheless, provided that the volume is still above the 40-day VMA level, the positive market sentiment is expected to sustain, thus a positive criteria for the KLCI uptrend.

As circled at C, the MACD histogram is still rising, while no rounding top is sighted yet. Therefore, this suggests that the market movement for the short term is still bullish biased, until the MACD histogram should form a rounding top.

Despite some tendency of a consolidation, it has to confirm with the Bollinger Bands Width contraction. If the KLCI should consolidate, the best scenario for its consolidation would be a low fluctuation sideways movement. If the KLCI should remain supported by the Bollinger Middle Band after its consolidation, the current uptrend shall remains intact.

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