The KLCI ended lower on Tuesday, precisely supported by the T1 line, and the T1 is still the dynamic support for the KLCI. Other than the T1 dynamic support, 1089 WinChart Automatic Fibonacci Retracement is also a support for the KLCI. If the KLCI should rebound from the 1089 WinChart Automatic Fibonacci Retracement, there is a chance for the KLCI in forming a Double Bottom. Resistance for the KLCI is still at 1140 WinChart Automatic Fibonacci Retracement.

As indicated by A, the KLCI is still staying below the 14, 21, 31 EMA, which is also the dynamic resistance for the KLCI. Therefore, the KLCI movement is still bearish biased until the break out above the 14, 21, 31 EMA.

As indicated by B, total market volume is still below the 40-day VMA level, suggesting that the market is lightly participated. In other words, without sufficient inflow of fresh capital, the KLCI is less likely to regain its strength.

As circled at C, the Stochastic is still falling while remain below the 30% level, which is the short term bearish region. The Stochastic has to break above the 30% level to signal a technical rebound. Therefore, the current reading of the Stochastic suggests that KLCI short term movement is still bearish biased.

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