On Friday, the KLCI had a daily low touching 1319.75 points; however, it rebounded in the afternoon session to close at 1339.08 points. As indicated by A, the KLCI is still supported by the 31-day EMA. Meanwhile, the 1332 is still the support level and if the KLCI should rebound from this level, it shall continue its consolidation between the 1332 support and 1368 resistance range.

Total market volume for on Friday was 7.7% lower, while continue staying below the 40-day VMA level. This seems that investors are still confident with the market, and the low volume also suggests that the market is lack of inflow of fresh capital. Therefore, the KLCI is still less likely to regain its strength. (Study B)

Stochastic %K rebounds and breaks above the 30% level, leaving the unconfirmed short term bearish region. At the moment, the Stochastic is showing a neutral signal, and therefore, the market movement for the short term is at neutral. (Study C)

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