Composite Index ended weakly on Thursday's trading with a lost of 6.23 point, closing at 919.85. As shown in the chart above, KLCI has broken the L1 support barely, while closing just a fraction below the 50 days EMA dynamic support. This is a critical point for KLCI to choose the coming direction, for a break below this level shall suggests more downside movement. (Study A)

Although the 10 days Bollinger Band contracted another 11% on Thursday, KLCI remained below the middle band. If the KLCI failed to support at the 920 level, a break below it would likely to trigger the opening of the outer bands.

Total market volume remains relatively low for it is still standing below the 40 days VMA level. For the day, total market volume stood at 3.48 million lots. (Study B)

As indicated in the C circle, %K of the Stochastic has turned back below the 30% level, and had even dropped below t he 10% level. Therefore, no confirmation for the end of the short-term bearish sentiment, and short-term out look remains bearish. (Study C)

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