Meanwhile, the Bollinger Bands expanded 12%, with the KLCI above the Bollinger Middle Band. The expansion of the Bollinger Bands suggests an increase of upside volatility, thus if the Bollinger Bands should continue to expand, with t he KLCI above the Bollinger Middle Band, the technical outlook shall remains positive.

As indicated by B, total market volume fell 11.8%, with volume below the 40-day volume moving average. The lower volume on Thursday failed to confirm the break out of the KLCI, but if the KLCI should continue is sideways movement, lower volume is normal.

As indicated by C, the MACD histogram forms a Rounding Bottom, with the MACD histogram rising, this suggests that the KLCI is picking up strength, and the positive movement of the KLCI is expected to carry on until the MACD histogram should form a Rounding Top.

In conclusion, despite the positive technical signal such as the Bollinger Bands, total market volume suggests that the participation was insufficient, thus the break out signal was not significant. Nevertheless, with the KLCI still above the 14, 21, 31 EMA, the uptrend shall remains unchanged.

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