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On Wednesday, the Composite Index ended marginally lower, losing 1.19 points to 921.94 points. As indicated by A, due to the sideway movement of the Composite Index, 10 days Bollinger band width continue to contract, indicating a consolidation for the KLCI. Nevertheless, the Composite Index is still supported by the 920 Fibonacci Retracement line while the T3 line is also serving as a dynamic support for the KLCI. (Study A)

As indicated by B, the total market volume for the day stood at 783 million shares, a 1.7% lower than the previous total market volume. Volume on Wednesday barely contacted the 40 days VMA level, suggesting that the market participation was still relatively active. (Study B) Anyhow, the most important thing to watch out for would still be the 920 and the T3 support line.

%K of the Stochastic fell below the 70% level on Wednesday, while the %D line is still slight above the 70% level. If both of these lines dropped below the 70% level, the market sentiment for the short-term would be at neutral. (Study C)

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