Meanwhile, the Bollinger Bands expanded 5%, with the KLCI above the Bollinger Middle Band, thus the immediate technical outlook is still on the positive side. However, the expansion of the Bollinger Bands was still insignificant at the moment.

As indicated by B, total market volume only increased 2.8%, with volume still above the 40-day volume moving average. This shows that the market as a whole is still well-participated, thus the market sentiment in general is still positive.

As indicated by C, the MACD histogram is gradually rising, as it suggests that the KLCI is slowly picking up strength. If the MACD histogram should continue rising, the improvement of the KLCI is expected to carry on.

Despite positive technical indicator signals, the KLCI has to first take out the 1500 resistance, before it could resume its uptrend. Nevertheless, immediate technical outlook is still positive.

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