Composite Index ended lower on Wednesday's trading with a lost of 3.77 points closing at 931.97 points. Resistance for KLCI remains at the 940 psychological level, while the immediate support falls on the W1 dynamic support; further support can be found at the 921 Fibonacci Retracement. (Study A)

Total market volume for the day stood at 4.63 million lots, and was 3.1% lower than yesterday's volume, while still standing below the 40 days VMA level. As mentioned on the previous analysis, to break out of the 940 level, we need volume more than 6 million lots or at least above the 40 days VMA level; therefore, hope for the break out is diminishing unless volume picks up drastically. (Study B)

The bearish divergence of WinChart RSI had given the possible reversal warning on Monday, and till now, the warning is still intact. In addition, WinChart RSI is now situated exactly at the 70% level; and a break below this level would end the mid-term bullish sentiment. (Study C)

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