Meanwhile, the Bollinger Bands contracted 1%, suggesting that the KLCI is basically still moving in a sideways manner. But immediate technical outlook remains positive, as the KLCI is above the Bollinger Middle Band.

As indicated by B, total market volume increased 1.8%, with volume above the 40-day volume moving average. Overall market is still actively participated and with the total market volume firmly above the 40-day volume moving average, the market sentiment as a whole is expected to stay positive.

As indicated by C, the Stochastic stays above 70%, in the short term bullish region. This suggests that the market movement for the short term is still bullish biased, until the Stochastic should fall below 70%.

In conclusion, the immediate technical outlook for the KLCI is still positive, while the long term uptrend remains intact as the KLCI is still above the 14, 21, 31 EMA.

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