As indicated by A, the KLCI is still supported by the 14, 21, 31 EMA dynamic support, despite losing 0.83 of a point or 0.1%. Meanwhile, the L1 uptrend line is still intact, and this shows that the KLCI is still in uptrend, with an immediate resistance at 1600.

As indicated by B, total market volume fell 15.4%, with volume staying below the 40-day Volume Moving Average. This shows that the market is still quiet, as investors are still not feeling confident about the market.

As indicated by C, the Stochastic fell marginally below 30%, entering the short term bearish territory. If the Stochastic should remain below 30%, it suggests that the short term movement of the KLCI is weak.

In short, despite the retreat of the KLCI after touching near 1600, the uptrend remains intact, with the technical outlook staying positive. For now, no sign of any reversal yet, not until KLCI should break below the L1 line or forms a Lower-High.

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