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On Tuesday, the Composite index ended mixed with a spinning top candle pattern. This suggested that the intra-day sentiment for the day was at conflict where the bull and bear were almost equally strong. With the support at 913 Fibonacci retracement line, the spinning top candle shall suggest a technical rebound. (Study A)

Mean while, resistance for the KLCI remains at the multiple exponential moving averages as well as the 920 Fibonacci retracement level.(Study a')

As indicated by B, Stochastic reading suggested that the KLCI is still slightly at over-sold condition. Therefore, a technical rebound would be reasonable. However, provided that the %D line staying below the 30% level, market sentiment for the short-term would remains bearish bias. (Study B)

As pointed by C, MACD histogram continue to fall lower on Tuesday, suggesting that the sentiment for the short-term is bearish., with no signs of bull gaining strength. At the moment, the falling slope of the MACD line is becoming critical. If the MACD fell below the zero level, it would dampen the overall market sentiment. (Study C)

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