Composite Index ended lower, losing 1.63 points to 922.64 points. As indicated in A, the 10 days Bollinger band width opened 22% with the KLCI situated below the middle band. Therefore, immediate outlook for KLCI is on the negative side.

Nonetheless, support for KLCI is at 921.03 WinChart automatic Fibonacci retracement line while the resistance for KLCI is at the 10 days Bollinger middle band dynamic support as well as the 928.78 Fibonacci retracement.

As shown in circle B, %D line of the Stochastic has confirmed the %K signal which happened yesterday. As a result, short-term market sentiment for KLCI will be bearish until the %K cut above the 30% level. (Study B)

As pointed in circle C, MACD sell signal is still intact where the MACD line crosses below the trigger line. Therefore, KLCI is likely to be bearish as long as the MACD line continues to decline. (Study C)

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