As indicated by A, the FBM KLCI breaks above the 1576.95 resistance, closing at 1579.07 points, making yet another historical new high. Meanwhile, the 14, 21, 31 EMA and the L1 line is still serving as the dynamic support for the KLCI, and the technical outlook for the KLCI remains positive.

As indicated by B, total market volume fell 9.3%, with volume barely above the 40-day Volume Moving Average. Although technically volume is above the 40-day Volume Moving Average, the overall market participation is still low.

As indicated by C, the Stochastic stays above 70%, in the short term bullish territory. This suggests that the short term movement of the KLCI is still bullish, until the Stochastic should break below 70%, then it would be a signal suggesting a beginning of a short term technical correction.

In short, the uptrend of the KLCI is still intact, as long as the KLCI could stay above the 14, 21, 31 EMA.

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