As shown on the chart above, the Bollinger Bands contracted 2%, suggesting that the KLCI is still consolidating, but with the KLCI above the Bollinger Middle Band, the immediate technical outlook for the KLCI remains positive.

As indicated by B, total market volume increased 10.4%, with volume above ethe 40-day volume moving average. Trading in the Bursa Malaysia remains active, and generally, the market sentiment is likely to stay positive.

As indicated by C, the Stochastic retreated slightly, but it stays above 70%, in the short term bullish region. Therefore, the short term bullish signal remains intact.

Meanwhile, the 14, 21, 31 EMA remains as a long term dynamic support for the KLCI uptrend. Technically, provided that the KLCI is supported by the 14, 21, 31 EMA the uptrend shall remains intact. Although the KLCI gain was insignificant, overall market sentiment remains positive.

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