As shown on the chart above, the KLCI is still consolidating within the T1 and T2 Triangular Pattern, and the consolidation is expected to stay intact until any break out. T1 line serves as the dynamic resistance while the T2 line is also another support.

Meanwhile, the Bollinger Bands expanded 2%, but this expansion is insignificant, and therefore, not valid for any signals consideration. Nevertheless, with the KLCI above the Bollinger Middle Band, the immediate technical outlook for the KLCI shall stay positive.

As indicated by B, total market volume fell 7.43%, with volume below the 40-day Volume Moving Average. This suggests that the market is relatively quiet. But it is usually normal to see lower trading volume when the market is moving sideways.

As indicated by C, the Stochastic remains above 70%, in the short term bullish territory. Therefore, the Stochastic is still suggesting a short term bullish biased movement for the KLCI.

In conclusion, the consolidation within the T1 and T2 triangular pattern of the KLCI remains in place, until a valid break out above the T1 line or below the T2 line.

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