KLCI ended lower on Wednesday, after having a false break out on Monday and Tuesday. As pointed by A, the KLCI remained below the falling 14, 21, 31 EMA dynamic resistance, and therefore the 14, 21, 31 EMA shall continue serving as the dynamic resistance level. Provided that the KLCI remained below the falling dynamic resistance, the outlook for the KLCI remained bearish bias. Nevertheless, the 1105.40 Fibonacci Retracement is still the next support level for the KLCI.

Total market volume remained lower on Wednesday, with only 139.96 million shares traded. A pointed by A, total market volume continued staying below the 40 days VMA level, suggesting that the current market participation is still weak, and therefore, chances for the KLCI to regain its positive position is still low. (Study B)

MACD line started pointing downward on Wednesday, while the histogram is yet to form a rounding top. Nevertheless, MACD is still showing a bearish signal, and if the histogram ticked lower, the bearish signal shall increase its strength. (Study C)

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