As indicated by A, after being resisted by the 1480 resistance together with the 14, 21, 31 EMA dynamic resistance, the KLCI ended 22.86 points or 1.56% lower on Monday. This is the biggest fall for the KLCI since 9^th of August this year. Support for the KLCI is at 1423.

As indicated by B, total market volume fell 10.79%, with volume clearly below the 40-day volume moving average. This suggests that the market is very quiet, as investors choose to stay on the sidelines, amid poor market sentiment. The lower market volume suggests that the investors are not feeling confident about the local market, and if volume should stay low, chances for the KLCI or the market as a whole to regain its strength is slim.

As indicated by C, the Stochastic fell below 30%, re-entering the short term bearish territory. This suggests that the short term movement of the KLCI is now back to bearish biased.

In conclusion, as the KLCI starts falling after being resisted by the 14, 21, 31 EMA as well as the 1480, the KLCI also form lower-highs, which suggests weakness of the KLCI, and the downtrend of the KLCI remains intact, with negative technical outlook. At the moment, there is no signs of any reversal yet, but the KLCI has the risk of testing the 1423.

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