As indicated by A, the Bollinger Bands Width has not expanded clearly, suggesting that the KLCI is still consolidating. On Tuesday, the KLCI was down 2.48 points or 0.2%, with the resistance remains at 1053 WinChart Automatic Fibonacci Retracement. Supports for the KLCI are still at the 200-day MA and the Bollinger Middle Band dynamic support.

As indicated by B, total market volume declined 42.7%, which is a typical characteristic of the KLCI during a consolidation or a technical correction. Nonetheless, the volume remains above the 40-day VMA level, suggesting that the overall market is still actively participated, thus the KLCI positive sentiment is expected to continue.

As circled at C, the Stochastic remains above 70% despite the KLCI consolidation, therefore, the short term movement for the KLCI is still bullish biased.

Due to profit taking activities, the KLCI started to consolidate. From the technical analysis point of view, the current sideways, low-fluctuation movement of the KLCI is the best consolidation manner. At the moment, support at the Bollinger Middle Band is critical, for if the KLCI should rebound from the Bollinger Middle Band, there is a good chance that the KLCI would continue its uptrend. Otherwise, if the KLCI should break below the Bollinger Middle Band, the immediate outlook for the KLCI would turn weak.

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