The KLCI opened lower on Monday, as pulled down by the regional markets. However, the KLCI managed to regain most of its early losses at the close, losing only 0.59 points, as indicated by A. Support for the KLCI is still at 1288 while the resistance of 1300 remains intact.

As indicated by B, total market volume declined 25.6%, while still above the 40-day VMA level. This suggests that the overall market is still actively participated, and the market sentiment as a whole is still positive.

As indicated by C, the Stochastic remains at above 70% level, which is still in the short term bullish territory. Technically, this shows that the shot term movement of the KLCI remains strong, until the Stochastic should break below 70% level.

The KLCI lost only 0.59 points despite the opening gap. Meanwhile, the Bollinger Bands is still contracting, thus the KLCI consolidation remains in place, until the re-expansion of the Bollinger Bands, then, only the KLCI shall begin its new movement. If the KLCI should stay above the Bollinger Middle Band as the Bollinger Bands expands, it would be a bullish signal, other wise, a bearish signal.

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