As shown on the chart above, the KLCI remains in its consolidation on Wednesday, closing 0.39 of a point lower to 1285.94 points. Meanwhile, the Bollinger Bands Width remains contracted, and therefore, if the Bollinger Bands Width should remains contracted, the consolidation of the KLCI shall continue. Nevertheless, 1285 level is still the support level to the KLCI, and the 1333 Fibonacci Level is still the next resistance level.

Total market volume remains below the 40-day VMA level on Wednesday. This suggests that the overall market participation is undoubtedly low, and therefore, the market sentiment is likely to remain weak.

As indicated by C, the MACD histogram ticked down further on Wednesday. Therefore, the rounding top remains intact. If the MACD histogram should continue falling, the MACD bullish signal shall continue losing its strength. In other words, the market movement for the short term is likely to be negative biased.

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