Composite Index closed mixed on Monday with a lost of 1.57 points, closing at 923.97. As shown in the chart, KLCI is still supported by the 50 days EMA line, together with the L1. In addition, WinChart Automatic Fibonacci Retracement at 917.57 also serves as a support for KLCI while the 931.45 Fibonacci Retracement would be the current resistance for KLCI. (Study A)

Total market volume for the day stood at 3.34 million lots while still below the 40 days VMA level.

As indicated in B, MACD histogram continues the round bottom signal, suggesting that the KLCI is currently having a technical rebound or consolidation. The consolidation shall continue until we see a round top signal from the MACD histogram.

Despite the consolidation of KLCI, Stochastic remains in the short-term bearish zone, (between 0% - 30%). Therefore, market sentiment for the short-term remains bearish bias until the stochastic successfully breach above the 30% level. (Study C)

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