Meanwhile, the Bollinger Bands contracted 9%, and this suggests that the KLCI is still contracting, and the consolidation of the KLCI is expected to carry on until the Bollinger Bands should re-expands.

As indicated by B, total market volume increased 9.34%, with volume above the 40-day Volume Moving Average. Again, this suggests that the market is actively participated, and generally, the high volume implies that the investor is confident of the current market movement, and therefore, with volume above the 40-day Volume Moving Average, the market sentiment is expected to be positive.

As indicated by C, the Stochastic is still rising while staying above 70%, in the short term bullish territory. Technically, as long as the Stochastic is above 70%, the market movement for the short term is expected to be positive.

In conclusion, the KLCI is still in its consolidation stage despite gaining over 5 points. Nevertheless, with the KLCI above the Bollinger Middle Band, as well as the 14, 21, 31 EMA, the technical outlook remains positive.

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