As indicated by A, the FBM KLCI ended lower on Tuesday, since resisted by the 14, 21, 31 EMA dynamic resistance as well as the 1400 psychological resistance. The KLCI loss 6.14 points or 0.45% on Tuesday. Support for the KLCI remains at 1310.

As indicated by B, total market volume increased 25.93%, but still below the 40-day volume moving average. This suggests that the market is still very quiet, as investors are being cautious, by staying on the sidelines, amid low confidence and market uncertainty. Currently, the market sentiment is still weak.

As indicated by C, the Stochastic retreated further on Tuesday, but not yet breaking below 30%. If the Stochastic should break below 30%, it would be a short term bearish signal for the KLCI.

In conclusion, after resisted by the 14, 21, 31 EMA dynamic resistance, the KLCI formed lower-highs, which clearly shows that the downtrend of the KLCI is still intact. For the mean time, the weak technical outlook is still in place.

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