As indicated by A, the KLCI continue its rebound on Wednesday, with its daily high touching the L1 downtrend line, before retreat to close at 1575.17 points, up 9.85 points or 0.63%. Since the KLCI is breaking above 1566-1570, this is now temporary the support for the KLCI.

As indicated by B, despite increasing 21.72%, total market volume remains below the 40-day Volume Moving Average. This shows that market is still quiet, and the participation is not yet reaching an ideal level. Generally, any bullish signal would have to be confirmed with strong volume.

As indicated by C, the MACD line is still above the Trigger line after crossing above yesterday. Therefore, for now the positive signal is still intact.

In conclusion, although the KLCI is breaking above the 1566-1570 resistance, it has not broken away from its downtrend. Nevertheless, the rebound of the KLCI has also help lifted the technical outlook, but until now, there is not signal of any bullish reversal.