The KLCI slipped 1.63 points on Friday, to close at 1360.45 points. Resistance for the KLCI remains at 1400 level while the support is at 1354 WinChart Automatic Fibonacci Retracement.

As indicated by A, the KLCI managed to rebound from the Bollinger Middle Band, despite the KLCI retreat. Therefore, this suggests that the immediate technical outlook is still bullish biased. Nevertheless, the Bollinger Bands is still contracting, suggesting that the KLCI is still consolidating.

As indicated by B, total market volume fell 12.9%, but still above the 40-day VMA level. Therefore, the overall market is still well-participated, and generally, the market sentiment as a whole is still positive.

As indicated by C, the Stochastic fell below 70%, ended the short term bullish signal. This is a signal suggesting a beginning of a technical correction, unless the Stochastic could return to above 70% in the immediate term.

In conclusion, the KLCI consolidation continues while the Bollinger Middle Band is still serving as the dynamic support. If the Bollinger Bands should re-expand, with the KLCI still above the Bollinger Middle Band, the KLCI would resume its uptrend.

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