The KLCI marked yet another historical new high on the first trading of the 2^nd Quarter 2012, gaining 7.45 poitns or 0.475 to close at 1603.78 points. As indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI while the uptrend remains intact. Since the KLCI has just touched its new high, there is no reliable resistance yet for the KLCI.

As indicated by B, total market volume increased 15.97%, but volume remains further below the 40-day Volume Moving Average. This suggests that the market participation is still quiet, despite the KLCI is making a historical new high. Technically, the break out of the KLCI was not supported by an ideal technical condition.

As indicated by C, the Stochastic remains above 70%, in the short-term bullish territory. This suggests that the short-term movement of the KLCI remains positive. If the Stochastic should break below 70%, it would be a signal suggesting a beginning of a technical correction.

In conclusion, the unimpressive volume has failed to confirm the break out of the KLCI, but the uptrend of the KLCI remains intact, with technical outlook still on the positive side. Nevertheless, there is no sign of reversal for the KLCI.