On Tuesday, the KLCI broke below the 913 support, ended the day with 13.07 lost while closed at the 903.64 Fibonacci Retracement level. As indicated by arrow A, 14, 21,31 EMAs were still falling and serving as the current dynamic resistance. As long as the KLCI remained below these EMAs, outlook for the KLCI would still be bearish. (Study A). 913 is now serving the as the immediate resistance while the support is still at the 903 or 900 psychological level.

As shown by B, the divergence signal of the Momentum was canceled out on Tuesday with the Moment breaking below the ascending line. (Study B)

As circled by C, MACD histogram failed to form a round bottom. The MACD histogram ticked down on Tuesday suggested that the bear was still in control, and this bearish signal shall continue until the histogram rebound successfully and formed a round bottom. (Study C)

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