As indicated by A, the Bollinger Bands expanded 16%, with the KLCI above the Bollinger Middle Band, thus the immediate technical outlook for the KLCI is on the positive side. The KLCI closed at 1319.21 points, gaining 4.07 points. Support for the KLCI remains at 1308 WinChart Automatic Fibonacci Retracement while the resistance is at 1334.34 WinChart Automatic Fibonacci Retracement.

Meanwhile, the KLCI remains supported by the 14, 21, 31 EMA, since 18th of February. This suggests that the KLCI is still trending in its uptrend, and the uptrend remains intact until the KLCI should fall below the 14, 21, 31 EMA.

As indicated by B, total market volume declined 9%, but volume remains above the 40-day VMA level. This shows that the market is still actively participated, thus the overall sentiment is still positive.

As indicated by C, the MACD histogram is still rising, suggesting that the KLCI is still gaining strength. Technically, the positive short term movement of the KLCI is expected to carry on until the MACD histogram should form a Rounding Top.

As the Bollinger Bands is now showing positive signal, the KLCI movement is expected to be on the positive side, provided that the Bollinger Bands should continue to expand. In addition to that, the short term movement of the KLCI is still bullish as the Stochastic remains above 70%.

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