The Composite Index ended lower on Thursday with a lost of 3.89 points ending at 909.67 points. As indicated in A, 10 days Bollinger Band opened another 17% with the KLCI situated below the middle band, therefore the KLCI had a downside bias. Nevertheless, support for the KLCI is still at the 906 level, while the resistance for KLCI are located in 917.57 Fibonacci as well as the 10 days Bollinger Middle Band dynamic resistance. (Study A)

As pointed in B, total market volume on Thursday has shown that the market was yet another quiet day. Although the daily volume stood at 3.43 million lots, it is still far below the 40 days VMA level, thus suggesting that the market participation was low. (Study B)

As shown in the C circle, Stochastic remained in the short-term bearish zone, (0%- 30%), and therefore, market sentiment for the short-term is assumed to be bearish. At this point, no any other visible signal from the Stochastic can suggest any reversal or technical rebound for KLCI, thus the out look for KLCI in the short-term remains bearish. (Study C)

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