Meanwhile, the Bollinger Bands expanded 17%, with the KLCI below the Bollinger Middle Band, thus the Bollinger Bands is now showing a bearish biased signal for the KLCI.

As indicated by B, total market volume increased 1.31%, with volume above the 40-day Volume Moving Average. Generally, when volume should increased with the falling of price, it suggests that the selling pressure is higher.

As indicated by C, the Stochastic fell sharply, to zero level, and entered the short term bearish territory. This suggests that the short term movement of the KLCI is negative, and this bearish biased movement shall carry on until the Stochastic could break above 30%.

In conclusion, the KLCI is again below the 14, 21, 31 EMA, and forming a lower-high, and this is an early sign of a possible downtrend formation. If the KLCI should remain resisted by the 14, 21, 31 EMA, the technical outlook shall stay negative.

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