Meanwhile, the Bollinger Bands is still not expanding, thus it is not showing any signal for the FBMACE, except suggesting that the KLCI is basically still consolidating.

As indicated by B, total market volume fell 9.76%, with volume below the 40-day Volume Moving Average. This shows that the market is still relatively quiet and the market sentiment as a whole is still at cautious.

As indicated by C, the Stochastic breaks above 70% by margin on Wednesday, entering the short term bullish territory. If the Stochastic could stay above 70%, the short term movement of the KLCI is likely to be positive.

In conclusion, since the rebound from 1480 support, the KLCI is testing the 14, 21, 31 EMA as well as the 1513 resistance. If the KLCI could stay firmly above the 14, 21, 31 EMA, together with the increased of volume, (above the 40-day Volume Moving Average), the KLCI would have a better chance to break away from this weak consolidation. But until then, there is still a chance for the KLCI in forming a Lower-high.

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