Due to DJI and the oversea markets rebounded strongly, FBMKLCI open with gap up after a long holiday. However the market volume is low with only 545 MIL (- 2.8%) shares traded today, the uptrend might not sustainable unless the institutional funds re-enter the market.
FBMKLCI maintains positive throughout the sessions and closed at 1259.07 (+5.68, +0.45%). FBMKLCI has not turn up trend yet unless it breaks out and stays above 1272 resistance level. The risk of down trending for FBMKLCI is still intact. The heavy weights like TNB, AMMB, GENM, Petdag, Plus and Maybank were heavily sold toward the closing and the CI loss about 3.5 points from 1262.5 to 1259.07 in the last 10 mins. This causes the candlestick to form a long shadow or shooting star, indicates there might be a correction for FBMKLCI.

FBMKLCI right now stays above the BBMB however if the trading volume continues to be low like today, the chances for it to go higher is slim. The immediate support level is 1255 and the BBMB. The immediate resistance level is 1268 and the next critical resistance level is 1272. There are 408 up counters and 206 down counters.

FBMKLCI Indicators
The Bollinger band contracted 4% with the candlestick stay above the BBMB, indicates FBMKLCI about to get out from the downtrending with continuous technical rebound today. The contraction of the BB also means that the FBMKLCI will consolidate and has a chance to rebound further.

RSI hooked up and broke above the threshold 30 and closed at 30.08, indicates FBMKLCI is rebounding from last session but still not turn bullish yet. If the RSI break above 60, the market will be bullish biased.

STC %K closed at 79.15, indicates FBMKLCI was rebounding strongly. The %D stay above 50 at 58.6, this indicates the FBMKLCI is trending up with bullish biased. If the %D can stay above 70, we will confirm the FMBKLCI will turn bullish in short term.

The MACD line still below ZERO but it had hooked up and going to cross the trigger line soon. The histogram had formed a rounding bottom; this indicates FBMKLCI has a chance to rebound further.

All the indicators above indicate FBMKLCI was technically rebound with bullish biased. If it can stay firm above BBMB with trading volume increase, then very high chance that it will completely close the gap and break up 1272. Please refer to the picture of FBMKLCI daily chart for your reference.