The KLCI gained 19.81 points or 1.35% on Wednesday, as lead by the strong gain of the overnight US markets, the KLCI closed at 1484.98 points. As indicated by A, the KLCI is still staying above the L1 uptrend line as well as the 14, 21, 31 EMA, and the technical outlook is positive. The KLCI is set to test the 1500 and 200-MA resistance, while its support of 1430 is still intact.

Despite the KLCI gaining close to 20 points, total market volume were almost unchanged, with only 0.71% increase, and therefore, total market volume failed to break above the 40-day volume moving average. This suggests that the market is still lightly participated, as investors are still being caution amid lower market confidence.

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

In conclusion, the KLCI immediate technical outlook is positive, provided that the L1 line and the 14, 21, 31 EMA dynamic support is still intact. However, the KLCI is yet to break above the strong resistance at 1500 and the 200-day MA, in order to prolong this uptrend movement.