As indicated by A, the FBM KLCI is still resisted by 1655, losing 0.64 of a point to close at 1651.61 points. Meanwhile, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI, and the KLCI uptrend remains intact.

As indicated by B, total market volume fell 11.85%, touching the 40-day Volume Moving Average line. If volume should continue to fall, and stay below the 40-day Volume Moving Average, it suggests that the market participation is back to quiet. Technically, when the market is consolidating, a lower volume is usually normal.

As circled at C, the Stochastic fell slightly, but still above 70%, in its short-term bullish territory. This suggests that the short-term movement of the KLCI remains positive.

In conclusion, with the KLCI unable to break above its 1655 resistance, the KLCI is not able to extend its uptrend movement. But, the immediate technical outlook for the KLCI remains on the positive side, and the KLCI is only in its consolidation stage. Nevertheless, profit taking is still high on Thursday, as losers outnumbered gainers.