Meanwhile, the Bollinger Bands contracted 15%, and this suggests that the KLCI might consolidate from here. However, with the KLCI below the Bollinger Middle Band, the immediate technical outlook is still on the negative side. Not to mention that, the T1 and T2 downtrend channel remain intact, and the technical outlook is still weak.

As indicated by B, total market volume fell 30.61%, and volume is below the 40-day Volume Moving Average. This suggests that the market is lightly participated, and the lower volume is also a sign of a weaker investor confidence. Therefore, the KLCI is less likely to regain its strength without a strong volume.

As indicated by C, the Stochastic stays at 0%, and this suggests that the KLCI short term movement is still weak, and the weakening movement is expected to carry on until the Stochastic could successfully break above 30%.

Other than the Bollinger Middle Band, the T1 and T2 downtrend channel, the KLCI is also resisted by the 14, 21, 31 EMA, which is the dynamic resistance. Therefore, these technical factors are showing a weak picture of the KLCI.

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