As indicated by A, the FBM KLCI ended another 17.25 points or 1.3%, to close at 1265.77 points. The KLCI also broke below the 1272 WinChart Automatic Fibonacci Retracement. Therefore, the next support for the KLCI is at 1250 while the resistance is at 1272 WinChart Automatic Fibonacci Retracement.

As shown on the chart above, the Bollinger Bands expanded 65%, with the KLCI below the Bollinger Middle Band, thus the immediate technical outlook for the KLCI remains weak. However, since the KLCI has broken below the Bollinger Lower Band, there is a chance of a technical rebound for the KLCI.

As indicated by B, total market volume declined 13.4%, while the market volume remains above the 40-day VMA level. This suggests that the market is still actively participated, but if the KLCI should fall with high volume, it would imply that the selling pressure is strong.

As indicated by C, the Stochastic broke below 10% level, which is a signal suggesting that the short term movement of the KLCI is indeed weak, but is oversold. Therefore, there is a chance of a technical rebound. Nevertheless, if the Stochastic should stay below 30% level, the short term movement for the KLCI shall remains weak.

In conclusion, the KLCI ended lower amid the bearish Bollinger Bands signal. However, with some sign of oversold condition, the KLCI is due for a technical rebound. Nevertheless, should the KLCI remains resisted by the Bollinger Middle Band after the rebound, the outlook shall remain bearish biased.

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