As indicated by A, the KLCI was trading at a narrow range on Tuesday, losing 1.65 points or 0.11% to close at 1477.22 points. Resistance for the KLCI remains at 1487 Fibonacci while the 14, 21, 31 EMA is still serving as the dynamic support.

As indicated by B, total market volume increased 4.72%, with volume strongly above the 40-day volume moving average. Again, most of the top actively traded stocks are low-priced stocks, and the high volume on Tuesday failed to reflect the true sentiment of the overall market.

As indicated by C, the Stochastic has not broken above 70%, thus not yet returning to the short term bullish territory. Nevertheless, with the Stochastic still above 50%, this suggests that the short term movement of the KLCI is still slightly on the positive side.

In conclusion, despite the high volume failing to reflect the true sentiment of the market, the short term uptrend of the KLCI remains intact, for the KLCI is still supported by the rising 14, 21, 31 EMA dynamic support, thus the immediate technical outlook for the KLCI remains positive.

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