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On Friday, the Composite Index ended lower, losing 2.6 points to 924.91 points. As indicated by A, the 10 days Bollinger band width contracted further 14%, suggesting that the consolidation is still not ended. This is the 7th days that the KLCI had gone sideways with low volatility, and therefore, 10 days Bollinger bands will be a suitable indicator to monitor the next direction of KLCI. (Study A)

Nevertheless, resistance for the KLCI remains at the 931 level while the support is still at 920 Fibonacci retracement level.

Total market volume on Friday stood at 659 million shares, an 18.9% gained from the previous day. However, volume at this level still failed to reach above the 40 days VMA level. Suggesting that the growth of volume is still insufficient to give the market some push. (Study B)

As indicated by C, the MACD histogram canceled out the the round bottom signal. Therefore, the market sentiment for the short-term remains bearish bias, until the histogram start rising. (Study C)

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