As indicated by A, the KLCI formed lower-highs on Monday, losing 9.24 points or 0.58% to close at 1575.08 points. Resistance for the KLCI remains at 1600-1609.33 point while the immediate support is at 1566-1570.

As indicated by B, total market volume fell 12.25%, with volume remains below the 40-day Volume Moving Average. This suggests that the market is still quiet, as investors confidence about the local market is still weak.

As indicated by C, the Stochastic fell below 70%, which ended the short-term bullish signal. Also, the Stochastic is now testing 30%, and if the Stochastic should break below 30%, it would be entering the short-term bearish territory.

In conclusion, the KLCI has formed lower-highs, and if the KLCI should also break below 1566-1570 support, it would have presented the characteristic of a reversal, and a downtrend formation. Also, it would be forming a Head and Shoulders Top reversal pattern, and if so, the technical outlook for the KLCI would be negative.