Despite having its daily high reaching 1647 points, the KLCI ended lower on Friday, closing at 1643 points, losing 1.6 points. The KLCI is likely to consolidate with the 1647 as the immediate resistance. Meanwhile, as indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI while the L2 uptrend line remains intact.

As indicated by B, total market volume increased 9.98%, with volume above the 40-day Volume Moving Average. However, together with the score board showing losers outnumbering gainers, the higher volume suggests profit taking was relatively active on Friday. Fortunately, losers were only marginally higher than gainers, with 410 losers vs 376 gainers.

As circled at C, the Stochastic remains above 70%, in the short-term bullish territory. This suggests that the KLCI short-term movement is still positive, and not showing any weakening signals yet.

In conclusion, the KLCI is at consolidation mood, but the uptrend remains intact. As long as the KLCI could stay above the 14, 21, 31 EMA and the L2 line, the technical outlook for the KLCI is still positive.