Meanwhile, the Bollinger Bands expanded, but only 3%. Nevertheless, with the KLCI above the Bollinger Middle Band, the immediate technical outlook for the KLCI is on the positive side.

As indicated by B, total market volume fell 24.37%, with volume falling below the 40-day Volume Moving Average. This is a sign of lack of market participation, and if volume should remain low, it suggests that the investors confidence is relatively low, thus staying on the sidelines.

As indicated by C, the Stochastic remains above 70%, in the short term bullish territory. Provided that the Stochastic stays above 70%, the market movement for the short term shall remain positive.

In short, technical outlook for the KLCI remains positive, and if the Bollinger Bands should continue to expand with the KLCI above the Bollinger Middle Band, more upside movement is expected for the KLCI. As for the longer term picture, the 14, 21, 31 EMA shall remain serving as the dynamic support.

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