Despite rebounding more than 4 points in the morning, the KLCI ended in red, losing 0.73 points to close at 1564.02 points. As indicated by A, the KLCI is still testing the 14, 21, 31 EMA dynamic support ,but breaking below the L1 uptrend by margin. Resistance for the KLCI remains at 1597.08 or 1600.

As indicated by B, total market volume fell another 8.29%, with volume below the 40-day Volume Moving Average. This suggests that the market is indeed quiet, as investors are not feeling confident about the market condition.

As indicated by c, the Stochastic fell below 30%, entering the short-term bearish territory. Technically, if the Stochastic should stay below 30%, the short-term movement of the KLCI is expected to be weak.

In conclusion, if the KLCI should really break below the L1 uptrend line, it will mark an end to the uptrend which started in October last year. However, this does not mean that the KLCI would immediately reverse into a downtrend. Technically, the ideal scenario for the KLCI is to form a consolidation Triangle pattern.