As indicated by A, the FBM KLCI is still supported by the 14, 21, 31 EMA dynamic support as well as the L1 uptrend line. The KLCI gained 6.48 points or 0.44% to close at 1491.46 points. The KLCI is set to test the 1500 and the 200-day Moving Average resistance.

Despite the rising of the KLCI, total market volume fell 27.21%, with volume below the 40-day volume moving average. This suggests that the market is still relatively quiet, as investors are not feeling confident about the local market.

As indicated by C, the Stochastic stays above 70%, in the short term bullish territory. This suggests that the short term movement of the KLCI is still positive. If the Stochastic should break below 70%, it would be a signal suggesting a beginning of a technical correction.

In conclusion, the technical outlook for the KLCI remains positive for now, and if the KLCI could break above 1500 and the 200-day Moving Average resistance, the uptrend is likely to be extended. However, a strong volume is needed to confirm such bullish break out.