As indicated by A, the KLCI fell 19.08 points to close at 1547.43 points, breaking below the 1522.66 WinChart Automatic Fibonacci Retracement and therefore, the next support for the KLCI is at 1537.63. Meanwhile, the T1 uptrend line is the uptrend support line for the KLCI since May 2010, and if the KLCI could rebound from this T1 uptrend line, it means that the KLCI could still have a chance to resume its uptrend. In additional, the T1 line is currently at the same level with the 31-day EMA .

As indicated by B, total market volume increased 15.87%, and despite some bargain buying, the high volume associated with the falling of the KLCI suggests that the selling pressure is increasing. As indicated by C, the Stochastic fell below 30%, entering the short term bearish territory. This suggests that the short term movement of the KLCI is on the weaker side, and the weakening short term movement shall carry on until the Stochastic could break above 30%.

Generally, with the Bollinger Bands showing a negative signal, the short term movement of the KLCI is likely to stay weak. However, the KLCI uptrend has not been violated, for it is still testing the 14, 21, 31 EMA, as well as the T1 uptrend line.

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