As indicated by A, the FBM KLCI rose 2.97 points with the Bollinger Bands expanding 7%. Meanwhile, the KLCI is still situated above the Bollinger Middle Band, and therefore, the immediate outlook for the KLCI is still on the positive side.

If the Bollinger Bands should continue expanding, while the KLCI still supported by the Bollinger Middle Band, the upside biased movement for the KLCI is expected to continue, until the contraction of the Bollinger Bands. Resistance for the KLCI is still at 1288 WinChart Automatic Fibonacci Retracement, while the support is at 1257 WinChart Automatic Fibonacci Retracement.

As indicated by B, total market volume increased 87.6%, with volume breaking above the 40-day VMA level. This is an important signal for it suggests an increased of market capital inflow, as well as buying interests. Therefore, if market volume should remain above the 40-day VMA level, the market sentiment is expected to improve, thus the positive movement of the KLCI is likely to sustain.

As indicated by C, the Stochastic is still staying above 70% level, which is the short term bullish territory. Therefore, the Stochastic is suggesting a short term bullish signal for the KLCI.

In short, the KLCI is picking up some strength, as the Bollinger Bands shows positive signal, which confirmed with the increased of market volume. Until the Bollinger Bands should contract, the immediate term of the KLCI is bullish biased.

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