After facing a steep plunge of 6% within a short span of time since early January 2010, the benchmark FBMKLCI has started to reverse its “wind” direction in a rapid fashion. The KLCI has resumed its prior uptrend after breaching the January 2010 high of 1308 effortlessly. In addition, the MACD trend indicator continues to trend upwards above its centerline which supports the on-going bullish tone. However with the Stochastic oscillator hovering around the 80% overbought region, there is a risk that the KLCI may see a short-term pull-back before continuing its assault northwards.  The rising window gap support of 1312-1300 may contain any potential dips for now. Immediate resistance to look out for will be at 1340 and a break above it may open up scope for a further rally towards the next resistance at 1380.