As shown on the chart above, the Bollinger Bands expanded 63%, with the KLCI above the Bollinger Middle Band, thus the KLCI continue its upside movement, gaining another 17.60 points or 1.3%, to close at 1335.29 points. As indicated by A, the KLCI breaks above 1324.89 level, and now the resistance is at 1350 level, while the support is at 1325 WinChart Automatic Fibonacci Retracement.

Other than the Bollinger Bands bullish signal, the KLCI is also being supported by the 14, 21, 31 EMA, suggesting that the immediate technical outlook is on the positive side, and the KLCI could be trending up.

As indicated by B, total market volume gained 71.3%, with volume breaking above the 40-day VMA level. This shows a great improvement in market participation, and generally, if volume should stay above the 40-day VMA level, the market sentiment as a whole is expected to improve.

As indicated by C, the Stochastic touched 100%, which suggesting that the KLCI short term movement is indeed strong, but it is getting over-heated. Thus a short term pull back might take place. Nevertheless, as long as it is still staying above 70%, the short term movement of the KLCI is still on the bullish side.

As the regional markets gaining strength, the KLCI follows. With volume increasing, the market sentiment is expected to improve, thus a positive effect for the KLCI.

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