On Wednesday, the KLCI rebounded rather strongly, gaining 11.78 points or 0.75%, to close at 1582.39 points. However, as indicated by A, the KLCI is still staying below the 14, 21, 31 EMA dynamic resistance thus the immediate technical outlook remains negative. Since the KLCI has rebounded, the immediate support for the KLCI is at 1566 level.

As indicated by B, total market volume increased 41.07%, but volume is still below the 40-day Volume Moving Average level. This suggests that the market participation is not yet at an ideal level.

As indicated by C, the Stochastic breaks above 30%, triggering a short-term technical rebound signal. If the Stochastic could continue rising, and break above 70%, it would be a signal suggesting a short-down bullish movement for the KLCI.

In conclusion, despite rebounding over 11 points, the KLCI has not resumed its uptrend. This is only a technical rebound signal. On the other hand, if the KLCI should later form Lower-highs, there is still a risk of a downtrend formation. Technically, in order for the KLCI to resume its previous uptrend, it would have to break above 1609.33.