As indicated by B, total market volume fell 1.78%, but still above the 40-day Volume Moving Average. This suggests that the current market participation is still at a healthy level, and generally, with volume maintaining above the 40-day Volume Moving Average, the market sentiment is likely to be positive.

As indicated by C, the Stochastic is still falling, but still above 70%, in the short term bullish territory. This suggests that the short term movement of the KLCI is still positive.

In short, the KLCI consolidation is a healthy one, and if the KLCI should remain above the 14, 21, 31 EMA, there is still a good chance for the KLCI to form a higher-low, and as for whether the KLCI could resume the uptrend started in 2009, we will have to see if the KLCI could take out the 1577 resistance.

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