The Composite Index ended lower on Friday, losing 2.74 points to 898.35 points. KLCI fall below the 900 psychological support level, and as a result, the 900 level will now serves as the resistance for KLCI. In additional, T2 will also serves as the resistance for KLCI.

As shown in A, KLCI rebounded at the 895 Fibonacci retracement line, and therefore, 895 Fibonacci will be the current support for KLCI. On the other hand, 10 day Bollinger band width expanded another 21%, with the KLCI situated below the middle band. Immediate outlook for KLCI is bearish bias.

As circled in B, the WinChart RSI remains below the 30% level; therefore, mid-term sentiment for KLCI will most likely be bearish. (Study B)

%D of the Stochastic falls below the 30% level, confirming the %K signal. As a result, short-term market sentiment will likely be bearish. (Study C)

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