Composite Index ended lower on Thursday, giving up 5.46 points to 901.09 points. As shown on the chart above, the KLCI closed below the T2 support line with the daily high resisted precisely at the 10 days Bollinger middle band dynamic resistance.

Mean while, 10 day Bollinger band width opened 16%. With the KLCI now situated below the middle band, immediate out look for KLCI is bearish bias. If we see the Bollinger band width expands wider, it would suggests more down side movement for KLCI. (Study A)

As indicated in B, WinChart RSI remains below the 30% level, which is the mid-term bearish zone. Therefore, the mid-term market sentiment for KLCI would likely to stay bearish until the WinChart RSI breaks above the 30% level. (Study B)

%K of the Stochastic has once again entered the short-term bearish zone, (below 30%) while the %D line remains in the neutral zone. Therefore, the short-term market sentiment is likely to be bearish bias. If we see the %D line crosses below the 30% level, it shall confirm the short-term bearish signal. (Study C)

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