Despite trading mostly in the positive territory, the KLCI ended in red, losing 1.32 points to close at 1596.16 point. As indicated by A, the KLCI is still testing the 14, 21, 31 EMA dynamic support, while staying above the 14, 21, 31 EMA. Resistance for the KLCI remains at 1600-1609.33 points.

As indicated by B, total market volume increased 98.16%, with volume breaking above the 40-day Volume Moving Average. This suggests some increased of market participation, but however, like what had happened on the 16^th and 21^st of March, the increased of volume was due to heavy trading in some low-priced counter and their warrants, but not really any big cap stocks. Therefore, the increase of volume has failed to reflect any improvement of market sentiment nor improvement of investors confidence.

As indicated by C, the Stochastic is still staying around 50%, which suggests that the short-term movement of the KLCI is still consolidating in a narrow range. In other words, the short-term direction of the KLCI is unclear, unless the Stochastic should break above 70% or break below 30%.

In conclusion, the KLCI is still in its uptrend, and until now, there are still no signs of a bearish reversal. Meanwhile, if market volume should continue to improve, it is likely that the investor confidence will be lifted as well.