The Composite Index continued its consolidation on Monday, closing the Monday's trading 2.38 points lower to 928.37 point. As pointed by A, the KLCI remained resisted by the 7 days EMA dynamic resistance while supported by the 926 Fibonacci Retracement (Study A1). 7 days EMA is a temporary immediate resistance of the KLCI and the 14 and 21 days EMA remained descending; therefore, the market is still on the bearish bias. (Study A)

Total market volume on Monday was only at around 464 million shares, a 37.1% lower than the previous daily volume. Obviously, the volume was below the 40 days VMA (Volume Moving Average) level, suggested that the market was poorly participated. With such low volume relatively, it is unlikely for the KLCI to regain it's strength. (Study B)

As circled by C, Stochastic remained below the 30% level, and therefore, the Stochastic suggested that the market sentiment for the short-term is still on the bearish bias. (Study C)

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