On Friday, the KLCI gained 4.69 points or 0.31%. to close at 1496.15 points. The KLCI is still testing its 1500 resistance, and also the 200-day Moving Average line. As indicated by A, the 14, 21, 31, EMA and the L1 line is still serving as the dynamic support to the KLCI.

Despite the KLCI is still rising, total market volume is actually falling. As indicated by B, total market volume fell 21.74% on Friday, with volume still below the 40-day volume moving average. This suggests that the market is still lightly participated, and also implies that investors are still not feeling confident about the market condition.

As indicated by C, the Stochastic stays above 70%, in the short term bullish territory. However, the Stochastic is touching 100%, which is a sign suggesting that the short term movement of the KLCI is getting over-heated. Nevertheless, as long as the Stochastic can hold its position above 70%, the short term movement of the KLCI is still positive.

In conclusion, the current technical outlook for the KLCI remains positive, but since the rising of the KLCI is was supported by thin volume, it suggests that the market was lifted by Index linked counters only.