On Friday, the KLCI had its intra-day high reaching 1480.33 points, and precisely resisted by the 1480 resistance. The KLCI closed 0.71 points lower on Friday. Meanwhile, the KLCI is still resisted by the 14, 21, 31 EMA dynamic resistance, and the support remains unchanged at 1423.

As indicated by B, total market volume fell 9.01%, with volume below the 40-day volume moving average. This suggests that the market is still quiet, as investors shun equity, and staying on the sidelines amid low market confidence. In short, without sufficient market participation and inflow of fresh capital, the market as a whole is less likely to regain its strength.

As indicated by C, the Stochastic stays around 50%, in the short term neutral region. This suggests that the short term movement of the KLCI is unclear, or the KLCI short term is consolidating.

In conclusion, the downtrend of the KLCI remains intact, and the technical outlook for the KLCI remains negative, as long as the KLCI is still staying below the falling 14, 21, 31 EMA dynamic resistance.

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