As indicated by A, the Bollinger Bands Width expanded another 10% on Monday, and with the KLCI remains below the Bollinger Middle Band, the bearish biased signal continues, and the immediate outlook for the KLCI is still negative biased. Therefore, support for the KLCI remains in 1244 Fibonacci Retracement line and the resistance shall remain at the1300 level.

As indicated by B, total market volume declined 15.6% on Monday, while the volume stays below the 40-day VMA level. Therefore, in short, the market is still relatively very quiet, thus the KLCI is expected to stay weak.

As circled at C, the Stochastic is still showing a short term bearish signal on Monday. If the Stochastic should continue staying below the 30% level, the market movement for the short term shall remains bearish biased.

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