As indicated by A, the FBM KLCI had its daily high reaching 1588.54 points, gaining up to 9.31 points. However, at the last hour of the trading, profit taking pulled back the KLCI, to close at 1582.73 points, trimming the daily gain to only 3.5 points. Nevertheless, the KLCI is still above the 14, 21, 31 EMA dynamic support as well as the 1566-1570 support.

As indicated by B, total market volume fell 3.96%, and as a result, it is still staying below the 40-day Volume Moving Average. This suggests that the market is still lightly participated.

As circled at C, the MACD histogram is rising, and this suggests that the KLCI short term is gaining some strength. The short-term improvement will continue until the MACD histogram should form a Rounding Top.

In conclusion, with the KLCI above the 14, 21, 31 EMA , the immediate technical outlook is positive. However, due to the lack of market volume, the reliability of any bullish signal would be reduced.