As indicated by A, the KLCI is still resisted by the 1400 psychological resistance as well as testing the 14, 21, 31 EMA dynamic resistance, losing 3.01 points or 0.21% on Monday. Support for the KLCI stays at 1310.

As indicated by B, total market volume fell 39.37%, and pathetically below the 40-day volume moving average. Again, this suggests that the market is very quiet, as inflow of fresh capital is still very low. In short, the KLCI is likely to stay in its consolidating mood or remains weak, if volume should stay this low.

As indicated by C, the Stochastic stays above 70%, in the short term bullish territory. This suggests that the KLCI short term movement is still on the positive side, until the Stochastic should fall below 70%.

In conclusion, the downtrend for the KLCI remains intact, and the technical outlook for the KLCI remains negative. Again, the best scenario for the KLCI for now would be a prolonged sideways consolidation, for it would help to neutralize the selling pressure.

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