On Friday, KLCI failed to break through the 921.56 WinChart Automatic Fibonacci Retracement resistance barrier and retreated. For the day, KLCI gave up 4.22 points closing at 916.84 points. Resistance for KLCI remains at 921.56 while the support for KLCI falls on the 909.58 Fibonacci. (Study A)

Total market volume for the day decreased 17.5%, stood at 5.58 million lots. It is considered usual for market volume to retreat slightly during a technical correction period. (Study B)

As pointed in C, MACD histogram showed a first sign of technical correction. In addition, compare the two consecutive tops of the MACD histogram, a Bearish divergence is clearly visible. Therefore, if the divergence signal is correct, 921 points would be the temporary top for KLCI. (Refer to MACD histogram divergence in the on-line tutorial)

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