Meanwhile, the Bollinger Bands contracted 15%, and this suggests that the KLCI is still consolidating. The direction for the KLCI shall remain unclear until the Bollinger Bands should begin to expand.

As indicated by B, total market volume increased 110.09 %, breaking above the 40-day Volume Moving Average. Generally, when volume is above the 40-day Volume Moving Average, it suggests that the market is actively participated, thus a sign of improvement of investors confidence. However, Monday's volume gain was mostly from active trading at some low-priced stocks, such as Iris, Kbunai, Talam and Saag. Therefore, whether or not the high volume could reflect the entire market sentiment, it yet to be sure.

As indicated by C, the Stochastic is still rising after breaking above 30%, and this suggests that the KLCI short term is still having its technical rebound. However, since the Stochastic has not broken above 70%, the market movement for the short term is not yet bullish.

In conclusion, the technical outlook for the KLCI remains weak, until the KLCI could successfully break above the 14, 21, 31 EMA. Nevertheless, if volume should remain strong, it would positively improve the market sentiment.

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