As indicated by A, the KLCI had its intraday low touching 1572.53 points, but closing at 1576.07 points, losing only 2.34 points. For now, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI, and the 1535 remains at the immediate support of the KLCI.

As indicated by B, total market volume remains below the 40-day Volume Moving Average, and this clearly shows that the market is quiet, and also implying that investors confidence is still low. Without sufficient inflow of fresh capital, the market as whole is unlikely to pick up its strength.

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

In conclusion, even thought breaking above the L1 line, the KLCI is still unable to resume its previous uptrend. For now, if the KLCI could sustain its sideways consolidation, it could neutralize some of the selling pressure.