Composite Index continued its technical rebound after supported by the 906 level. However, the KLCI is soon resisted by the 10 days Bollinger middle band dynamic resistance where the intra day high of Tuesday touched precisely at the middle band before retreated. Not only that, notice that the KLCI has been resisted by the middle band a few times two weeks ago. (Study A)

Therefore, support for KLCI stays at the 906 level, while the immediate resistance for KLCI is the Bollinger middle band. Nevertheless, the 10 days Bollinger Band is contracting, thus suggests a consolidation for KLCI.

As indicated in B, total market volume once again was unimpressive, with a daily volume standing at only 3.05 million lots. Therefore, market is still considered quiet. (Study B)

While the Long-term, Mid-term, and Short-term indicators still showing weakness, the MACD histograms is on the other hand outlining that the "bear" is getting weaker. Study the slope or the direction of the MACD line as it may outline the possible coming reversal. (Study C)

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