On Monday, Composite Index had a technical correction. For the day, KLCI gave up 1.76 points ended the day at 915.08 points. Immediate resistance for KLCI is at 921.56 points of the WinChart Automatic Fibonacci Retracement line, while the support falls on the 909.58 points, which is also the 10 days Bollinger Middle Band. (Refer to A)

For the day, Bollinger Bands contracted 11%, indicating that the KLCI is indeed consolidating. As a result, total market volume for the day was also lower at 4.46 million lots, situated below the 40 days VMA. (Study B)

As shown in C, MACD histogram confirmed the technical correction for KLCI with a 'round-top' signal. This technical correction shall continue until the formation of the 'round-bottom' signal. (Study C).

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