Composite Index ended lower, losing 2.11 points to 909.58 points. Currently, KLCI is supported by the 906.36 Fibonacci retracement line while the resistance for KLCI remains at the 10 days Bollinger middle band dynamic support.

As circled by A, this is the second day where as KLCI candle is situated below the 20 days Bollinger lower band. Therefore, a pull-back effect is still due to happen. However, since the 10 days Bollinger band width is still opening at 23%, immediate outlook for KLCI is still on the negative bias. (Study A)

As shown in B, total market volume for Friday only stood at 297 million shares, which was a 15.8% lower than yesterday's total market volume, as well as below the 40 days VMA level. Market participation was indeed quiet. (Study B)

As indicated in C, MACD line continued steering lower. In additional, MACD histogram is not showing any signal of round bottom. Therefore, market sentiment is still bearish. However, it pays to study the histogram for if the KLCI were going to have a technical rebound, signal will be shown in the histogram. (Study C)

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