As indicated by A, the KLCI rebounded 14.82 points or 1.03% on Thursday, to close at 1447.99 points. The KLCI is set to test the 14, 21, 31 EMA dynamic resistance. Next resistance for the KLCI is at 1493.28 points, which is the recent high, while the support is at 1423 Fibonacci Retracement line.

As indicated by B, total market volume fell 0.61%, with volume still touching the 40-day volume moving average level. If the KLCI should break above the 14, 21, 31 EMA, with volume increasing, it would be a positive signal suggesting some improvement of the technical outlook.

As indicated by C, the Stochastic breaks above 30% by margin, leaving the short term bearish territory. This is also a short term technical rebound signal for the KLCI. However, in order to trigger a short term bullish signal, the Stochastic would have to break above 70%.

In conclusion, the rebound of the KLCI is normal after falling for many days. However, the KLCI has not returned to its uptrend, nor the KLCI is forming a downtrend. Therefore, the KLCI is likely to consolidate from here.

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