Despite opening higher, the KLCI ended lower on Tuesday with strong profit taking activities. At the close, the KLCI fell 2.31 points or 0.15% to close at 1556.73 points. As indicated by A, the KLCI is still staying above the 14, 21, 31 EMA dynamic support, suggesting that the uptrend is still valid. Resistance for the FBMKLCI stays at 1567 followed by 1600.

As indicated by B, total market volume increased 5.2%, but volume is still below the 40-day Volume Moving Average. Profit taking activities is still dominant on Tuesday, as there were 511 losers over 309 gainers. If volume should increase with the KLCI falling, it implies some increased of selling pressure.

As indicated by C, the Stochastic is staying around 50%, suggesting that the short term movement of the KLCI is consolidating in a sideways manner. If the Stochastic should break below 30%, it would be a signal suggesting a short-term bearish biased movement for the KLCI.

In conclusion, strong profit taking activities prevented the KLCI from moving higher, but the uptrend of the KLCI is still intact. Currently, the KLCI is only consolidating in its uptrend, but if the KLCI would to resume its uptrend, it would have to break above its immediate resistance of 1567 or the up side room is still limited.