On Thursday, the KLCI continue its consolidation, losing another 3.86 points or 0.25% to close at 1556.66 points. As indicated by A, the KLCI is set to test the 14, 21, 31 EMA dynamic support while the immediate resistance remains at 1567 followed by 1600.

As indicated by B, total market volume fell 12.5%, but since the market overall is in a consolidation mood, a lower volume is usually quite normal. Meanwhile, profit taking activities is still strong, with 689 losers over 217 winner.

As indicated by C, the Stochastic is still falling after breaking below 70%. This suggests that the KLCI is having its short-term technical correction. If the Stochastic should break below 30%, it would be a signal suggesting a short-term bearish movement for the KLCI.

In conclusion, despite the consolidation, the uptrend of the KLCI is still intact, as the 14, 21, 31 EMA dynamic support is still supporting the KLCI. Also, the KLCI has not shown any sign of lower-highs, and therefore, we don't see any signs of a bearish reversal yet.