On Friday, the Bollinger Bands Width expanded another 8% with the KLCI below the Bollinger Middle Band, and therefore, the bearish movement of the KLCI remains intact, the KLCI losing 6.33 points. As long as the Bollinger Bands Width is still expanding, the bearish biased move of the KLCI is likely to continue, until the contraction of the Bollinger Bands Width.

As indicated by A, the KLCI is still consolidate with a bearish biased movement, and the resistance is still at 887 WinChart Automatic Fibonacci Retracement while the supports are at 869 followed by 853 WinChart Automatic Fibonacci Retracement.

As indicated by B, total market volume remains below the 40-day VMA level, suggesting that the overall market participation is still very quiet as investors are still on the sidelines ahead of festive holidays.

As circled at C, the Stochastic is still below 30% level, which is the short term bearish region, suggesting that the market movement for the short term is still bearish biased. Unless the Stochastic could break above the 30% level successfully, the bearish biased movement is expected to continue.

In conclusion, the immediate outlook for the KLCI is still on the negative side as long as the KLCI is still below the falling Bollinger Middle Band.

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