Composite Index ended lower, easing 2.5 points to 896.13 points. As shown on the chart above, the KLCI had a daily low at 891.31 points and rebounded at the 891 Fibonacci level. Therefore, support for KLCI is now at 891 Fibonacci retracement while the resistance for KLCI remained at the T1 dynamic resistance. (Study A)

As indicated by B, total market volume for the day stood at 2.89 million lots, or a 2.1% decreased from yesterday's total market volume. At the moment, total market volume remain under the 40day VMA (Volume moving average) level suggesting that the overall market is still relatively quiet. (Study B)

%K of the Stochastic is once again entered the short-term bearish zone. This is a first bearish signal suggesting that the market sentiment for the short-term is now bearish. However, %D is still in the neutral zone, and if the %D drops below the 30% level, it shall confirm the %K signal. (Study C)

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