On Tuesday, the KLCI opened lower, and had attempted to rebound, but still ended 1.52 points or 0.10% lower to close at 1582.28 points. As indicated by A, the KLCI stays below the 14, 21, 31 EMA, thus the immediate technical outlook is slightly on the negative side. However, the KLCI has not formed a downtrend. Resistance for the KLCI stays at 1600-1609.33 points.

As indicated by B, total market volume fell 14.59%, with volume below the 40-day Volume Moving Average. This not only showing low market participation, but also implying lower investor confidence. Generally, when the KLCI is weakening, a lower volume is usually normal.

As indicated by C, the Stochastic stays below 30%, in the short-term bearish territory. This suggests that the short-term movement of the KLCI is still weak, until the Stochastic could successfully break above 30%, which by then, would be a signal suggesting a beginning of a technical rebound.

In conclusion, despite the short-term weakness and the uptrend that was formed since October last year was violated, the KLCI has not formed a downtrend. Actually, the KLCI could also form consolidation patterns like Triangles after breaking below its previous uptrend.