As indicated by A, the KLCI rebounded 3.14 points or 0.2% on Tuesday, after Monday's loss. The KLCI is temporary supported by 1525.67 WinChart Automatic Fibonacci Retracement and the next support for the KLCI is at 1513.56 WinChart Automatic Fibonacci Retracement; while the resistance is at 1537.67.

As indicated by B, total market volume fell 6.7%, despite the KLCI rebound on Tuesday, and as a result, volume is still below the 40-day Volume Moving Average. This suggests that the market participation is still low, as investor's confidence about the local market is still low.

As circled at C, the Stochastic also rebounded slightly, in line with the KLCI rebound on Tuesday. Therefore, with the Stochastic still above 30%, there is not short term bearish biased signal sighted yet.

In conclusion, the KLCI direction remains unclear while still in a consolidating mood. If the KLCI could form a Higher-Low, followed by breaking above its recent high of 1566, then it would have a chance to resume its uptrend. As for forming a downtrend, it is too early to tell right now, until the KLCI should form a Lower-High.

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