As indicated by A, the FBM KLCI rose 3.29 points to close at 1340.07 points, and the support for the KLCI remains unchanged, at 1334 WinChart Automatic Fibonacci Retracement while the resistance is at 1347.61 followed by the 1354 WinChart Automatic Fibonacci Retracement.

As shown on the chart above, the Bollinger Bands expanded slightly, with the KLCI above the Bollinger Middle Band, thus the immediate technical outlook remains positive. If the Bollinger Bands should continue to expand, the bullish signal is likely to carry on.

As indicated by B, total market volume declined 2.2%, and volume remains below the 40-day VMA level. This suggests that the market sentiment as a whole is still weak, as investors confidence is relatively lower. Therefore, the KLCI does not have the most ideal bullish condition.

As circled at C, the Stochastic breaks above 70%, entering the short term bullish territory. If the Stochastic should should remain above 70%, the bullish short term movement of the KLCI shall carry on.

In conclusion, the KLCI is showing some signal of resuming its uptrend, but volume remains low. Nevertheless, if the Bollinger Bands should continue to expand, the bullish biased movement of the KLCI shall continue.

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