As indicated by A, the Bollinger Bands Width of FBMACE index expanded only 9%, from the previously 22%, this implies that the Bollinger Bands Width might be contracting soon. If the Bollinger Bands Width should contract, it would suggests that the FBMACE index is consolidating, and the Bollinger Middle Band would be the first target of the consolidation. Resistance for the FBMACE is still at 4398 WinChart Automatic Fibonacci Retracement while the support is at 4031 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic retreated slightly, but remain above 70% level. This shows that the short term bullish biased movement of the FBMACE index remains intact. If the Stochastic should break below 70% level, it would be a signal suggesting a beginning of a short term technical correction.

As circled at C, the MACD histogram retreated slightly, and might be forming a Rounding Top. If the MACD histogram should form a Rounding Top, it would be a signal suggesting a consolidation of the KLCI, and the consolidation is expected to continue until the MACD histogram should form a reversed Rounding Bottom.

With some implication that the Bollinger Bands Width might be contracting, the FBMACE might be consolidating soon with the Bollinger Middle Band being the first target. If the FBMACE should rebound from the Bollinger Middle Band, the currently uptrend shall remains unaffected.

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