In line with the rebound across the Asia, the KLCI gained 9.07 points or 0.58% to close at 1569.43 points. As indicated by A, the KLCI rebounded and formed a higher-low, which is illustrated by the L2 Ascending line. Together with the L1 downtrend line, the KLCI has formed a Symmetrical Triangle Consolidation pattern.

As indicated by B, total market volume remains below the 40-day Volume Moving Average, gaining only 9.72%, despite the KLCI has rebounded over 10 points in its intraday movement. Basically, the market is still quiet.

As circled at C, the MACD histogram is still falling, while the Rounding Top is still in place. This suggests that the KLCI short-term is losing strength, or in consolidation stage.

In conclusion, the KLCI is consolidating in a Symmetrical Triangle pattern. The Symmetrical Triangle is a neutral consolidation pattern, with equal strength of bull and bear. If the KLCI should break above the L1 line, it means the KLCI would break away form its downtrend, and it could continue its upward movement. However, the bullish breakout signal needs to be confirmed with strong volume, or the KLCI would just extend its sideways consolidation after breaking above the L1 line. On the other hand, if the KLCI should remain resisted by the L1 downtrend line, and breaks below the L2 line, it means that the downtrend is still intact.