As indicated by A, the FBM KLCI rebounded 6.6 points, closing at 1642.52 points. The 14, 21, 31 EMA is still serving as the dynamic support to the KLCI. At the moment, the KLCI is less than 6 points away from its historical high resistance.

Despite the rebound of the KLCI from the 14, 21, 31 EMA dynamic support, total market volume fell 28.17%, with volume further below the 40-day Volume Moving Average. The low volume implies that investors are not feeling confident about the market. Meanwhile, profit taking is still active as losers still outnumbered gainers on Thursday.

As circled at C, the MACD histogram continues its uptick, and the Rounding Bottom signal remains intact. This suggests that the short-term movement of the KLCI is still improving, and the improvement is expected to continue, until the MACD histogram should form a Rounding Top.

In conclusion, the KLCI is consolidating in its uptrend, with positive technical outlook. However, the lower volume has failed to converge with the positive outlook. If the KLCI should extending its uptrend with insignificant volume, the bullish movement would be unconfirmed.