Despite opening higher on Wednesday, the KLCI ended 5.7 points lower to close at 1584.90 points, wiping out yesterday's gain. As indicated by A, the KLCI is closing at the 14, 21, 31 EMA level. Resistance for the KLCI remains at 1600-1609.33 point while the support is at 1566.

As indicated by B, total market volume is still below the 40-day Volume Moving Average, suggesting that the market is still quiet.

As indicated by C, the Stochastic remains above 70%, in the short-term bullish territory. If the Stochastic should break below 70%, it would mark an end to this short-term bullish signal.

In conclusion, there is still no signs of the KLCI resuming its uptrend, and currently, the KLCI is basically consolidating. However, if the KLCI should form lower-highs, then breaks below 1566, it would increase the chance of a downtrend formation.