Meanwhile, the Bollinger Bands expanded 10%, with the KLCI still above the Bollinger Middle Band, thus suggesting that the immediate technical outlook for the KLCI is still on the positive side. If the Bollinger Bands should continue to expand, while the KLCI stays above the Bollinger Middle Band, more upside movement is expected for the KLCI.

As indicated by B, total market volume increased 27.7%, with volume above the 40-day volume moving average. Generally, if volume should stay above the 40-day volume moving average, it suggests that the market sentiment as a whole is still positive.

As indicated by C, the Stochastic retreated on Friday, with still above 70%, which suggests that the short term movement of the KLCI is still bullish bias. If the Stochastic should break below 70%, it would be a signal suggesting a beginning of a technical correction.

In short, the uptrend for the KLCI remains unaffected, and the market sentiment as a whole is still on the positive side.

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