As shown on the chart above, the Bollinger Bands expanded 7%, with the KLCI above the Bollinger Middle Band, thus the immediate technical outlook for the KLCI is still bullish biased. If the Bollinger Bands should continue to expand with the KLCI above the Bollinger Middle Band, more upside movement is expected for the KLCI.

As indicated by B, total market volume increased 23.4%, with volume above the 40-day VMA level, suggesting that the market is well-participated. Basically, if volume should stay above the 40-day VMA level, the market sentiment as a whole is likely to be positive.

As indicated by C, the Stochastic is still above 70%, in the short term bullish region, since 13th of March. This suggests that the short term movement of the KLCI is still bullish biased, until the Stochastic should break below 70% level.

In conclusion, the uptrend of the KLCI remains unaffected, while the 14, 21, 31 EMA is still serving as a long term dynamic support for the KLCI, despite the KLCI upside volatility of the KLCI is slightly reduced.

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