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As indicated by A, the KLCI
successfully closed above 1688, making a historical closing high at 1671.89
points, gaining 3.9 points. The 14, 21, 31 EMA remains its dynamic support.
Since the KLCI is closing at its historical high, there is no reliable
resistance for now.
As indicated by B, total
market volume increased 27.2%, with 1,440,328,900 shares traded. While still
above the 40-day Volume Moving Average. Generally, the active market
participation is likely to sustain the improving market sentiment.
As indicated by C, the
Stochastic stays above 70%, in its short-term bullish territory, suggesting that
the short-term movement of the KLCI is still positive.
In conclusion, despite the US
market closed lower, the KLCI marks its historical new high. Technically, the
technical outlook for the KLCI remains positive, as it is still supported by the
rising 14, 21, 31 EMA dynamic support.
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