As indicated by A, the KLCI continue to fall on Friday, while breaking below the 14, 21, 31 EMA dynamic by margin, losing 11.07 points or 0.76% to close at 1454.40 points. Resistance for the KLCI is at 1487 Fibonacci retracement line, while the supports are at 1453 followed by 1420 Fibonacci.

Total market volume fell 7.78%, with volume touching the 40-day volume moving average line. If volume should fall below this level, it suggests that the market is back to quiet again, and the sentiment is likely to stay weaker. (Study B)

As indicated by C, the Stochastic fell below 30%, into the short term bearish territory. This suggests that the short term movement of the KLCI is weakening.

In conclusion, the KLCI short term uptrend is barely holding up, and if the KLCI should really fall below the 14, 21, 31 EMA, it would mark an end to the short term uptrend. However, it is still too soon to call for any downtrend formation for now, at least not until the KLCI should form lower-Highs.

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