As indicated by A, the KLCI was still resisted by the 14, 21, 31 EMA, which is serving as the dynamic resistance, as well as the L1 line. The KLCI fell 5.46 points or 0.35%. Support for the KLCI is at 1552 WinChart automatic Fibonacci retracement.

As indicated by B, total market volume fell 26.47%, and as a result, volume failed to stay above the 40-day volume moving average. If volume should stay below the 40-day volume moving average again, it suggests that the market is back to quiet, as participation decreases. It would also imply that investors are not feeling confident about the local market.

As indicated by C, the Stochastic stays below 30%, in the short term bearish territory. This suggests that the short term movement of the KLCI is still weak.

In short, despites the short term weakness, the KLCI has not formed a downtrend, unless the KLCI should later form a Lower-High, then it would be one of the downtrend characteristics, that suggests the weakness of the KLCI.

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