As shown on the chart above, the Bollinger Bands continued to expand, expanding 36%, with the KLCI above the Bollinger Middle Band, thus the bullish movement of the KLCI continued. The KLCI closed at 1385.51 points, gaining 7.04 points. Resistance for the KLCI is at 1400 level while the support is at 1340.63 and 1354 WinChart Automatic Fibonacci Retracement.

Not only did the Bollinger Bands bullish signal continues, the KLCI is still supported by the 14, 21, 31 EMA, thus the uptrend is still intact.

As indicated by B, total market volume declined 10.3%, but still firmly above the 40-day VMA level. This suggests that the market is still actively participated, as the overall market sentiment is still positive.

As indicated by C, the Stochastic stays above 70%, thus the short term bullish remains intact, and the short term movement of the KLCI is still bullish biased.

Basically, technical reading of the KLCI is still positive with some over-heated condition. Provided that the KLCI is still supported by the 14, 21, 31 EMA, the uptrend shall remain intact.

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