As shown on the chart above, the FBMKLCI had its intraday reaching 1567.87 points, gaining up to 7.1 points. But at the end, the KLCI only managed to close 0.27 of a point higher at 1559.04 points. As indicated by A, the 14, 21, 31 EMA is still the dynamic support to the KLCI while the resistance stays at 1567 followed by 1600.

As indicated by B, total market volume fell 3.12%, with volume now below the 40-day Volume Moving Average. Generally, with volume below the 40-day Volume Moving Average, it suggests that the market participation is relatively quiet.

As indicated by C, the Stochastic stays around 50%, in the short-term neutral region. This suggests that the KLCI short-term is consolidating in a sideways manner.

In conclusion, when an index or an individual counter is consolidating with lower volume, it is generally suggesting a healthy consolidation, for the selling pressure is not extreme. Nevertheless, the important factor to whether the KLCI could sustain its uptrend is still at the dynamic support. For now, we don't see any reversal signs, and therefore, the technical outlook for the KLCI remains positive.