As indicated by A, the FBM KLCI had its intraday low touching 1469.93 points, but rebounded slightly after precisely supported by the 14-day EMA, and closed at 1472.92 points, losing 10.07 points or 0.68%. Support for the KLCI remains at the 14, 21, 31 EMA dynamic support followed by 1430, while the resistance is at 1500 as well as the 200-day Moving Average.

Total market volume started to decrease as the KLCI consolidates. As indicated by B, total market volume fell 22.29%, with volume now below the 40-day volume moving average. If volume should stay below the 40-day volume moving average, it suggests that the market is back to quiet. Actually, if the KLCI were to consolidate, a lower volume is better, for it suggests that there is no panic selling.

As indicated by C, the Stochastic fell below 70%, which ended the short term bullish signal. Generally, the KLCI should consolidate in a sideways manner, the Stochastic would be moving between 30% to 70%. If the Stochastic should fall below 30%, it would be a signal suggesting a short term bearish movement of the KLCI.

In conclusion, despite the falling on Thursday, the KLCI remains supported by the 14, 21, 31 EMA dynamic support, thus the immediate technical outlook for the KLCI is still positive. At the moment, the KLCI is likely to stay in its consolidating mood, while not yet resuming its uptrend, nor forming a downtrend.