On Wednesday, the KLCI ended 6.23 points lower to close at 1281.20 points. Meanwhile, the Bollinger Bands Width continues to contract, suggesting that the KLCI is back in consolidation stage again, and the market direction shall remains unclear. Therefore, the resistance for the KLCI remains at 1300 psychological level while the support is still at 1244 Fibonacci Retracement line.

As indicated by B, total market volume declined 18.6%, and again the volume failed to break above the 40-day VMA level. Therefore, this shows that the market participation is again insufficient. If the market volume should remains below the 40-day VMA level, the KLCI is likely to consolidate further.

As circled at C, the Stochastic %K line declines further on Wednesday, and breaking below the 30% level. This is due to the KLCI closed near its daily low. Nevertheless, the Stochastic %K line is now suggesting a short term bearish biased signal. If the Stochastic %D line should also break below the 30% level, it would confirm the %K line, and the market movement for the short term would turn bearish biased.

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