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On Wednesday, the Composite Index ended marginally higher, gaining 1.66 points to 927.17 points. KLCI candle on Wednesday showed a long upper shadow line, suggested some selling pressure when it hit the 931 resistance. Therefore, the 930 level is the immediate resistance for KLCI, while the support is still at the 10 days Bollinger middle band dynamic support. (Study A)

Mean while, 10 days Bollinger band width contract another 14%, suggesting the consolidation is still not ended. Nevertheless, the uptrend channel (T1 and T2) is still intact.

As circled by B, WinChart RSI remained in the mid-term bullish region, suggesting that the market sentiment for the mid-term is still bullish bias. (Study B)

As indicated by the C curve, the MACD histogram continued to decline on Wednesday, suggesting that the consolidation is still not ended yet. However, the slope of the decline has reduced, thus implying that the consolidation may end soon. Nevertheless, the MACD histogram must form a round bottom to signal an end of the consolidation. At the moment, the MACD has not trigger any bearish signal. (Study C)

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