On Friday, the KLCI marked another historical new high, closing at its daily of 1620.55 points, up 6.12 points or 0.38%. As indicated by A, the L2 uptrend line remains intact, while the 14, 21, 31 EMA continue to serve as the dynamic support to the KLCI. Since the KLCI is still closing at its new high, we do not see a valid resistance yet, until the KLCI starts to pullback.

As indicated by B, total market volume increased 2.1%, with volume above the 40-day Volume Moving Average. Theoretically, this suggests that the overall market is well-participated.

As indicated by C, the MACD histogram is still ticking higher, thus forming a Rounding Bottom signal, suggesting that the KLCI is picking up its strength. The positive short-term movement is expected to carry on until the MACD histogram should form a Rounding Top.

In conclusion, the KLCI is extending its L2 uptrend, and as long as the KLCI is still above the 14, 21, 31 EMA, the technical outlook for the KLCI shall remains positive.