As indicated by A, the KLCI ended another 3.1 points, while barely staying above the T1 dynamic support line. If the KLCI should technically rebound above the T1 line, it would be a typical break out after a pullback, and the KLCI would likely to test the 1164 level. Support for the KLCI remains at 1089 WinChart Automatic Fibonacci Retracement while the resistance is at 1140 WinChart Automatic Fibonacci Retracement.

As shown on the chart, the Bollinger Bands Width expanded 0%, suggesting the downside volatility of the KLCI is slowly reducing. If the KLCI should break above the Bollinger Middle Band, the immediate outlook shall improve.

As indicated by B, total market volume dropped 6.1%, suggesting that the market is still relatively quiet, and the KLCI is likely to stay weak in its consolidation mood. If volume should break above the 40-day VMA level, the KLCI would have a better to regain its strength.

As circled at C, the Stochastic remains below the 30% level, in the short term bearish region, suggesting that the KLCI short term movement is still weak. Nevertheless, if the Stochastic should break above the 30% level, it would be a signal suggesting a beginning of a short term technical rebound.

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