As indicated by A, the FBM KLCI resisted by the 14, 21, 31 EMA, which is the dynamic resistance for the KLCI. On Tuesday, the KLCI gained 1.91 points to close at 1288.18 points. Generally, the KLCI has to break above the 14, 21, 31 EMA in order to return to uptrend.

Resistance for the KLCI remains at 1297 to 1300 level while the support is at 1284, which is the 38.2% Fibonacci Retracement line. Meanwhile, the Bollinger Bands expanded 1%, but it is still insignificant to consider for any signal. Nevertheless, with the KLCI above the Bollinger Middle Band, the immediate technical outlook is still slightly on the positive side.

As indicated by B, total market volume increased 5.9%, but with volume below the 40-day VMA level. Therefore, the overall is still quiet, as it also implies that the investors' confidence is still low.

As indicated by C, the Stochastic rebounded slightly, while still staying above the 70% level, therefore, this suggests that the short term movement of the KLCI is still bullish biased, until the Stochastic should break below 70%.

Basically, the KLCI is still consolidating, while in between the Bollinger Middle Band and the 14, 21, 31 EMA. Technically, the KLCI has to break above the 14, 21, 31 EMA in order to regain its strength.

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