Meanwhile, the Bollinger Bands expanded 28%, with the KLCI remains below the Bollinger Middle Band. This suggests that the immediate technical outlook for the KLCI is still on the negative side. If the Bollinger Bands should begin to contract, the KLCI is likely to stop falling and consolidate.

As indicated by B, total market volume fell 27.23%, with volume below the 40-day Volume Moving Average. This suggests that investors are being cautious and prefer to stay on the sidelines as the market sentiment for the short term is affected by the sharp retreat of the KLCI.

As indicated by C, the Stochastic rebounded slightly, but remains below 30%, in the short term bearish territory. This suggests that the short term movement of the KLCI is still weak, until the Stochastic could successfully break above 30%.

In conclusion, the technical outlook for the KLCI is now negative as the KLCI is below the Bollinger Middle Band, as well as the 14, 21, 31 EMA. The KLCI has not formed a lower-high, thus it has not confirmed a downtrend formation.

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