As indicated by A, the KLCI rose 3.76 points or 0.25% on Friday, but still below the 1500 psychological resistance. Coincidentally, the 200 day Moving Average is now also at 1500 level, thus making this resistance an important one. Support for the KLCI remains at 1428 Fibonacci.

As indicated by B, total market volume increased 2.79 %, with volume above the 40-day volume moving average. Generally, when volume is above the 40-day volume moving average, it suggests that the market is relatively well-participated, thus likely to improve the market sentiment.

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

In conclusion, with the KLCI above the 14, 21, 31 EMA, the technical outlook for the KLCI is now positive. However, the KLCI is not yet returning to its uptrend, for it has yet to break above the 1500 resistance. This means that KLCI is basically still in its consolidation stage.

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