On Monday, the KLCI ended lower, losing 3.99 points to 889.51 points. As pointed by A, 14, 21, 31 EMA continued descending, suggesting that the KLCI was still trending down. As a result, the 14, 21, 31 EMA shall remained as the dynamic resistance to the KLCI. (Study A) Mean while, 883 Fibonacci Retracement is still the support for KLCI.

As circled by B, Stochastic continued to stay below the 30% level, which is the bearish region. Provided that the Stochastic remained in the bearish region, market sentiment for the short-term shall remained bearish. (Study B)

MACD histogram rebounded slightly and as a result, the histogram might form a round bottom signal which would suggest a technical correction. Nevertheless, the MACD line remained below the trigger line thus the bear is still in control. (Study C)

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