The Composite Index ended lower again on Thursday trading, gave up 3.43 points at 936.05 points. At the moment, support for KLCI is at the 931.45 WinChart Automatic Fibonacci Retracement, while the resistance is at the 953.88. Mean while, 10 days Bollinger Bands contracted 9% suggesting that the KLCI is still consolidating. (Study A)

As indicated in B, total market volume stood at 3.727 million lots, while still below the 40 days VMA level. Volume at this rate indicates that the market is rather quiet.

%K of Stochastic has breached below the 30% level, triggered the first bearish signal. If the %D line drops below the 30% level, it would confirm the short-term bearish market sentiment. Therefore, KLCI is now facing more downside risk, unless we see the %K rebound above the 30% level, which would then cancel out today's bearish signal. (Study C)

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