KLCI continued its consolidation on Monday, ended the day mostly lower to 1081.60 points, down 7.72 points. As pointed by A, the KLCI remained supported at the border line of 1080 level as well as the 14, 21, 31 EMA dynamic support. At the moment, the KLCI is still in a consolidation stage with the 14, 21, 31 EMA still serving as the dynamic support. Therefore, the KLCI has not signaled a bearish trend. Nonetheless, other supports are still found at 1038, and 1000 points respectively.

While the KLCI continued its consolidation, total market volume remained relatively low while staying below the 40 days VMA level. This suggested that the participation was still insignificant, thus the KLCI is unlikely to resume its bullish uptrend. (Study B)

As pointed by C, WinChart RSI continued staying lower, still situated in the mid-term neutral region. This suggested that the KLCI is still at a neutral consolidation phase. If the KLCI was to consolidate further, expect the WinChart RSI to stay around the 50% level. (Study C)

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