KLCI was falling towards T2 in the beginning of last week, it was however supported by T2, there for KLCI was still considered within the Up Trend Channel formed  by T1 and T2. 

After KLCI was supported in the Ascending Up Trend Channel, KLCI soared 8.85 points or 1% last week to close at 916.28 points. 

As indicated by Fibonacci Retracement on the chart above, KLCI immediate resistance is 920.57; while it's support lies at 892.68.

Bollinger Band (BB) was narrowed early on last week, this is the sign of KLCI consolidating for new trend; while the new trend direction is yet to be determined.

Normally when KLCI sideways (consolidates), many technical indicators are over sensitive; there for we normally uses BB to monitor when KLCI break above from the consolidation.

As BB expand on Friday (refer to A), KLCI was already above the Bollinger Middle Band (BMB); there for KLCI soared last Friday.

Technical Indicators

Volume
As pointed by B, volume increased gradually, and it broke the 40 days Volume Moving Average (VMA) on Friday. If volume can keep above the 40 days VMA, it will help KLCI turning strong.

MACD
As circled by C, MACD's Oscillator (OSC) formed a round bottom and continue to move up, there for KLCI is soaring too. If MACD OSC break into the positive phase, KLCI will be on short term up trend.

On another hand, MACD is turning upwards, it indicates KLCI long term trend is still on the positive phase.

RSI
Though RSI is still yet to break into the 70% level last week, but it stay above 50%, this indicated KLCI is still not turned into mid term bearish.

STC
STC rebound last week, up into the 70% short term bullish region, this is the sign of KLCI short term bullish.

In a nut shell
KLCI soared last week after it sideways, normally should Bollinger Band continue to expand, KLCI up trend would be continued, until BB contract. On another hand, with the support of volume (above 40 days VMA), there for KLCI up trend would be sustainable.

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