As indicated by A, the KLCI fell in early trades, but very soon recovering its early losses and started rising. At the close, the KLCI gained 6.58 points to close at its daily high, as well as a historical new high of 1652.90 points. With the KLCI closing at new high, there is no valid resistance for now, but the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI.

As indicated by B, total market volume gained 3.29%, but volume remains below the 40-day Volume Moving Average. Therefore, despite the bullish break out on Tuesday, the breakout was not well supported. The relatively lower volume also implies that investors are still not feeling confident about the market.

As circled at C, the Stochastic stays above 70%, in the short-term bullish territory. This suggests that the short-term movement of the KLCI is still on the positive side, and this positive signal shall remains intact until the Stochastic should break below 70%.

In conclusion, the KLCI was lifted by blue chips, but the bullish breakout was not supported with the required strong volume. In other words, the market uptrend was not entirely well-participated. But still, with the KLCI still trending up, the technical outlook for the KLCI is still on the positive side.