Meanwhile, the Bollinger Bands expanded 3%, with the KLCI above the Bollinger Middle Band. This suggests that the immediate technical outlook for the KLCI is still on the positive side. However, the expansion of the Bollinger Bands was insignificant to suggests any signal now.

As indicated by B, total market volume fell 27.35%, with volume below the 40-day Volume Moving Average. Market is still very quiet, and this implies that investors are reluctant to take up new positions amid the cautious market sentiment.

As indicated by C, the Stochastic retreated slightly on Thursday, but still above 70%, in the short term bullish territory. This suggests that the market movement for the short term is still positive, until the Stochastic should break below 70%.

In conclusion, the KLCI is still consolidating at a narrow range between the 1513 WinChart Automatic Fibonacci Retracement and 1525 WinChart Automatic Fibonacci Retracement. Technically, as long as the KLCI could stay above the 14, 21, 31 EMA, the technical outlook is still on the positive side.

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