On Wednesday, the KLCI lost 15.25 points to close at 1263.70 points. As indicated by A, the KLCI is still resisted by the falling 14, 21, 31 EMA, which is also serving as the dynamic resistance to the KLCI. Therefore, the outlook for the KLCI shall remains bearish biased. Nevertheless, the 1285 level is still the important resistance level to the KLCI.

As indicated by B, total market volume for Wednesday declined 0.6% while remains below the 40-day VMA level. This suggests that the overall market participation is still insufficient. In other words, this shows that the market confidence is still weak, and therefore, the sentiment for the KLCI is still on the negative side.

As circled by C, the Stochastic is still staying above the 70% level, which is the short term bullish region. If the Stochastic should fall below the 70% level, it would suggests that the market movement for the short term would turn from bullish to neutral.

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