The KLCI ended lower on Wednesday, closing 8.25 points lower to 1369.23 points. As indicated by A, the KLCI returned to the congestion zone of the 14, 21, 31 EMA, while the 14, 21, 31 EMA is still serving as the dynamic support. If the KLCI continues its sideways movement, we shall switch to Bollinger Bands. (Study A) Nevertheless, the 1391.57 points remains the immediate resistance to the KLCI.

Total market volume on Wednesday increased slightly, and still staying above the 40-day VMA level. If the KLCI should test the resistance at 1391.57 level, a higher volume shall increase the chance for a break out. (Study B)

On Wednesday, the Stochastic is still showing a short term neutral signal. If the %K line should fall below the 30% level, it would be an unconfirmed short term bearish signal. If the %D line should fall below the 30% level, it would confirm the %K line signal, and the market movement for the short term would be bearish biased. (Study C)

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