As indicated by A, the Bollinger Bands Width expanded 15%, with the KLCI above the Bollinger Middle Band, and the KLCI ended 11.18 point higher, slightly breaking above the 1077 WinChart Automatic Fibonacci Retracement.

As shown on the chart above, the KLCI rebounded from the T2 uptrend line again, and therefore, the T2 uptrend line remains as the dynamic support for the KLCI. Currently, the resistance for the KLCI is still 1077 WinChart Automatic Fibonacci Retracement for the KLCI only managed to break above the 1077 by margin. If the KLCI should continue rising, the next resistance for the KLCI is at 1100 level.

As indicated by B, total market volume increased 56.2%, with volume above the 40-day VMA level. If volume should remain above the 40-day VMA level, it would lift the market sentiment, thus the KLCI would have a better chance in sustaining its uptrend.

As circled at C, the Stochastic continue to stay above 70%, which is the short term bullish region. Therefore, as long as the Stochastic is still above 70% level, the short term market movement for the KLCI is still bullish biased.

After moving sideways for a couple of days, the Bollinger Bands Width finally expanded clearly, suggesting the KLCI is breaking away from its consolidation. If the Bollinger Bands Width should continue to expand with the KLCI above the Bollinger Middle Band, the outlook for the KLCI is likely to be positive biased. Of course, the best confirmation to the bullish signal would be the volume remain above 40-day VMA level.

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