On Friday, the KLCI had its daily low touching 1526.60 points, losing more than 17 points, but it started to regain part of its losses in the last 30 minutes of trading, reducing its daily loss to 11.75 points or 0.76% to close at 1532.46 points. As indicated by A, the KLCI is only falling marginally below the 1535 support, thus the 1535 is still intact. Resistance for the KLCI is at 1566-1570 while the next support is at 1500.

As indicated by B, total market volume fell 16.89%, with volume still below the 40-day Volume Moving Average. In short, the market is indeed quiet, as investors are still not feeling confident about the market.

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

In conclusion, the KLCI downtrend remains intact. Base on KLCI past behavior, there is a chance of a rebound in the near future, but it is crucial to note that a technical rebound is not a reversal. If the KLCI should continue to form lower-highs after the possible rebound, its technical outlook shall remain negative.