The regional markets were mixed, while the FBM KLCI gained 5.73 points to close at 1590.6 points. As indicated by A, the KLCI breaks above the 14, 21, 31 EMA, temporary breaking away from the weakening movement. Resistance for the KLCI is at 1600-1609.33 while the support is at 1566 as well as the 14, 21, 31 EMA.

Total market volume increased 32.34%, but volume remains below the 40-day Volume Moving Average. In short, the market is still relatively quiet, and the volume has not reached the ideal level of sustaining or resuming the uptrend of the KLCI (or the market as a whole).

As indicated by C, the MACD histogram is still rising, suggesting that the KLCI short-term movement is still gaining strength. Meanwhile, the Stochastic is above 70%, suggesting short-term positive signal.

In conclusion, with the KLCI breaking above the 14, 21, 31 EMA, the immediate technical outlook for the KLCI is improving, but still no sign of resuming its uptrend. The KLCI could still form other consolidating patterns like Triangles.