As shown on the chart above, the KLCI ended a few points higher to close marginally above the 1200 level. However, as indicated by A, the 14, 21, 31 EMA is still serving as the dynamic resistance for the KLCI. Therefore, the immediate outlook for the KLCI remains bearish biased, and the support for the KLCI remains at 1157 level.

As indicated by B, although total march increased 17.7%, it is still below the 40-day VMA level. This shows that our market is still lightly participated, and the overall liquidity is still insufficient. Therefore, the KLCI is likely to remains weak.

As circled at C, the Stochastic is still showing a short term bearish signal, with the Stochastic staying below the 30% level. As long as the Stochastic is still below the 30% level, the short term bearish signal shall continue.

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