As pointed by A, the KLCI tested the 14, 21, 31 EMA dynamic resistance, while precisely resisted by the 1195 Fibonacci Retracement level. Therefore, the 14, 21, 31 EMA at the 1195 level is still the immediate resistance to the KLCI. The next resistance level for the KLCI would be at 1216 to 1220 level, which was the gap took place on the 28th of February. Nevertheless, lower support is still at 1105.40 Fibonacci Retracement.

Total market volume declined 5.5% on Monday, with only 937 million shares traded. Needless to mention, the total market volume was further below the 40 days VMA level, suggested that the market is still lacking participation. Therefore, the KLCI is still relatively weak in market force, and chances for the KLCI to regain its strength is still thin. (Study B)

Not much changes on the WinChart RSI, as of Monday, WinChart RSI rebounded slightly while continued staying in the mid-term neutral region. If WinChart RSI fell below 30% level, the market sentiment for the mid-term would turn bearish. (Study C)

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