As indicated by A, the FBM KLCI had its intraday low touching 1452.37 points, but the KLCI still managed to find its support at 1453 fibonacci as well as the 14, 21, 31 EMA dynamic support, closing the day at 1462.37 points, fell 8.58 points or 0.58%.

As indicated by B, total market volume increased 12.15%, with volume still highly above the 40-day volume moving average. On one hand, this suggests that the market is still actively participated, and on the other hand, the higher volume which associated with the falling of the KLCI might imply some increased of selling pressure.

As indicated by C, the Stochastic is still falling, but still not yet breaking below 70%, thus the short term bullish signal is still intact. If the Stochastic should fall below 70%, it would also mark a beginning of a short term technical correction.

In conclusion, the short term uptrend of the KLCI is still intact, and if the KLCI should break below the 14, 21, 31 EMA, it might violated the short term uptrend, and the KLCI could consolidate. Nevertheless, resistance for the KLCI remains at 1487 Fibonacci.

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