Despite the falling of the regional markets, the KLCI buck the falling trend by gaining 2.51 points, as indicated by A, closing at 1360.92 points. Immediate support for the KLCI is at 1354 while the resistance is at 1400 psychological level.

As shown on the chart above, the Bollinger Bands expanded 7%, with the KLCI above the Bollinger Middle Band, thus suggesting that the immediate technical outlook for the KLCI is still on the positive side.

As indicated by B, total market volume fell 8.1%, but still above the 40-day VMA level. Overall, the market is actively participated, and with volume firmly above the 40-day VMA level, we presume that the market sentiment in general is positive.

As indicated by C, the Stochastic remains above 70%, in the short term bullish territory, and therefore, the short term movement of the KLCI is still strong, until the Stochastic should break below 70%.

In short, since rebounding from the Bollinger Middle Band, on the 22nd of July, the KLCI continues its uptrend, advancing 6 consecutive trading days. Nevertheless, the 14, 21, 31 EMA is also supporting the KLCI uptrend, thus the uptrend remains intact.

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