As indicated by A, the FBM KLCI tested the 14, 21, 31 EMA as well as the L1 uptrend on Monday, it rebounded strongly on Tuesday after supported by the 14, 21 ,31 EMA dynamic support, and this suggests that the uptrend of the KLCI is still intact. The KLCI gained 10.30 points or 0.68% to close at 1519.36 points. Resistance for the KLCI remains at 1530.

As indicated by B, despite the rebound of the KLCI, total market volume only gained 0.57%, with volume still below the 40-day volume moving average. This suggests that the market overall is still lightly participated, and implying that investors are still not feeling confident about the local market.

As indicated by C, the Stochastic rebounded strongly, and now touching 70%. If the Stochastic could break and stay above 70%, the short term movement of the KLCI would resume its bullish biased condition.

In conclusion, the uptrend of the KLCI is still intact, and the only set back is that the KLCI is not yet breaking above 1530 resistance, thus capping its upside room. Nevertheless, as long as the KLCI is still staying above the 14, 21, 31 EMA, the technical outlook for the KLCI shall remains positive.