Composite Index closed below the 940 psychological level on Wednesday marginally with a daily low at 925.77 while ended the day at 939.48. In order to maintain the upward momentum, KLCI must return to above the 940 level as soon as possible, or it could means an end to this rally. Currently, KLCI immediate support is at 931.45 Fibonacci retracement. (Study A)

Total market volume for the day stood at 3.72 million lots, lower than the 40 days VMA level. This indicates that the market is still considered quiet. (Study B)

As shown in C, WinChart RSI has called an end to the mid-term bullish sentiment, and currently situated in the mid-term neutral zone. If the KLCI were going to have a sideways market, we shall expect WinChart RSI to wander around the 50% level. (Study C).

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