The KLCI closed at 1,118.18 up only 1.09. Volume improved slightly to 11,408 lots compared to yesterday’s 9,750 lots.
In spite of the higher volume, the price has only a narrow range. The high and low was 1,119.16 and 1,114.41 respectively.
This is an indication that the market is overbought. It will find difficulty going higher and is likely to trend down in the immediate term.