As indicated by A, the FBM KLCI rose 2.96 points to close at 1355.19 points, breaking above the 1354 resistance by margin. Therefore, the break out is yet to be confirmed. Support for the KLCI remains at 1325 level.

As shown on the chart above, the Bollinger Bands expanded 11%, with the the KLCI above the Bollinger Middle Band, thus the immediate technical outlook is still positive.

As indicated by B, total market volume increased 15.8%, with volume firmly above the 40-day VMA level. Generally, this suggests that the market is well-participated, while the overall market sentiment is still positive.

As indicated by C, the Stochastic rebounded, while still staying above the 70%. Therefore, the short term bullish signal remains intact, suggesting that the short term movement of the KLCI is still strong.

In short, the KLCI uptrend remains intact, with the 14, 21, 31 EMA as well as the Bollinger Middle Band still supporting the KLCI. If the Bollinger Bands should expand further while the KLCI above the Bollinger Middle Band, more upside room is expected for the KLCI.

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