Composite Index closed marginally lower on Thursday with a loss of 0.27 points. As indicated in A, KLCI closed precisely at the 10 days Bollinger middle band dynamic support, and as a result, this dynamic support is still intact. At the same time support for KLCI is also found at the 924.35 WinChart automatic Fibonacci retracement line.

If the KLCI is supported by these two elements, outlook for KLCI is still positive; but however, at this moment, KLCI is at the border line of the support level.

As shown in B, total market volume on Thursday decreased 18.3%, with 3.78 million lots changing hands. It shows that the Thursday volume was below the 40 days VMA level, thus suggesting the activities of participation is insufficient. (Study B)

Indicator wise, we see that the %K line of Stochastic is now dropped below the 70% level, suggesting the short-term bullish sentiment has ended. If we see the %D line drop below the 70% level, it shall confirm the %K signal. (Study C)

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