On Thursday, the KLCI remains in its narrow range consolidation, losing 2.24 points or 0.14% to close at 1596.62 points. As indicated by A, the KLCI is now testing the 14, 21, 31 EMA dynamic support , while the resistance stays at 1600-1609.33 points.

As indicated by B, total market volume fell 19.98%, with volume barely above the 40-day Volume Moving Average. Nevertheless, it is usually normal to have lower volume when the index (or individual counters) is consolidating. However, if the KLCI should break above its resistance, a strong volume is required to confirm such break out.

As indicated by C, the Stochastic stays around 50% level, suggesting that the short-term movement of the KLCI is still consolidating in a sideways manner.

In conclusion, the KLCI is now showing any signs of bearish reversal. However, if the KLCI should extend its uptrend, it would have to break above its recent high of 1609.33 with strong volume.