KLCI continued its consolidation at a narrow range on Monday, while still being supported by the 14, 21, 31 EMA dynamic support. (Study A) Currently, resistance remained at the 970 level and the next support level will be seen at the 950 level.

Total market volume on Monday stood at around 360 million shares, while obviously below the 40 days VMA (Volume Moving Average) level, suggesting that the current market participation is still weak. (Study B)

As circled by C, Stochastic ended lower on Monday. If the %K broke below the 30% level, it would trigger the first short-term bearish signal, and confirmation of the bearish signal shall take place when the %D fell below the 30% level. Provided that the Stochastic remained below the 30% level, market sentiment for the short-term would stay bearish. (Study C)

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