As indicated by A, the KLCI ended lower on Friday, but precisely supported by the Bollinger Middle Band, therefore, the Bollinger Middle Band is the immediate support for the KLCI. Meanwhile, the Bollinger Bands Width only expanded 1%, therefore the signal is insignificant.

Nevertheless, if the KLCI should remain supported by the Bollinger Middle Band, the immediate outlook for the KLCI is slightly on the positive side. If the Bollinger Bands Width should expands with the KLCI above the Bollinger Middle Band, it would be a bullish signal. Other support for the KLCI is still at 800 point while the next resistance is still at the 887 WinChart Automatic Fibonacci Retracement as well as the T1 downtrend line.

As indicated by B, total market volume declined another 20.2%, and as a result, the volume is still below the 40-day VMA level, suggesting the overall market participation is still low. The low volume is also a typical sign of a consolidation market.

As circled at C, the Stochastic failed to maintain above the 70% level, and therefore, the short term bullish signal of the KLCI has ended. In short, the KLCI is still preparing for a new movement, and we will still have to wait until the Bollinger Bands Width expands to determine the new direction of the KLCI, and of course, the performance of the regional markets also play an important role in affecting the KLCI performance.

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