As indicated by A, the FBM KLCI were trading almost flat on Tuesday around the 14, 21, 31 EMA level. The KLCI fell 1.71 points or 0.12% to close at 1465.39 points. Resistance for the KLCI remains at 1500 level as well as the 200-day Moving Average, while the support is at 1430 level.

As indicated by B, total market volume increased 14.66%, with volume above the 40-day volume moving average. Generally, if volume should remain above the 40-day volume moving average, it suggests that the market is actively participated. However, if the most active counters were still penny stocks and structured warrants, the high volume would not truly reflect the improvement of the market sentiment.

As indicated by C, the Stochastic is still falling, but not yet breaking below 30%, thus the Stochastic has not yet triggered any short term bearish signal.

In conclusion, the KLCI is still consolidating between the 1430 ~ 1500 level. However, still, with the KLCI below the 200-day Moving Average, the long term technical outlook for the KLCI remains gloomy.