On Wednesday, the KLCI breached slightly below the temporary support of 1215 level, closing 15.17 point lower to 1212.59 points. Meanwhile, as indicated by A, the 14, 21, 31 EMA remains falling, and therefore, still serving as the dynamic resistance for the KLCI. Provided that the KLCI is still resisted by the falling EMA, the market outlook is expected to be bearish biased. Nevertheless, the next support for the KLCI is at 1157 Fibonacci Retracement line.

As indicated by B, total market volume increased 51.9%. However, the increase of volume resulted a loss in the KLCI, thus suggesting a negative volume flow. Therefore, if the KLCI should continue falling with volume increasing, it would suggests an increase of selling pressure.

As circled at C, the Stochastic remains below the 30% level, and therefore, the short term bearish signal is still intact. Provided that the Stochastic is still below the 30% level, the market movement for the short term is still bearish biased.

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