As indicated by A, the KLCI was trading at a narrow range on Thursday, gaining marginally higher (0.98 of a point) to close at 1633.45 points. The 14, 21, 31 EMA is still supporting the KLCI while the resistance stays at 1647.94 points.

As indicated by B, total market volume fell 13.17%, but volume remains above the 40-day Volume Moving Average. It is usually normal to have lower volume when the KLCI (or the market as a whole) is consolidating, but if the KLCI should resume its rally, more volume is needed to confirm such bullish movement.

As circled at C, the MACD histogram stopped falling, and could be forming a Rounding Bottom. If the MACD histogram should begin rising, it suggests that the KLCI consolidation is over, and the KLCI could resume its uptrend movement.

In conclusion, the KLCI is still consolidating in its overall uptrend movement. However, technically, the KLCI have to break above its historical high of 1647.94, or else the upside room is still limited.