As indicated by a, the KLCI opened 4.21 lower on Wednesday at 1614.37 points, but soon after the opening, the KLCI gradually regained its losses, with the help of select blue chips. At the close, the KLCI gained 0.72 of a point at 1619.3 points. Resistance for the KLCI remains at 1625 as well as the 14, 21, 31 EMA dynamic resistance, while the support is still at 1600 psychological level.

As indicated by B, total market volume fell 10.11%, with volume below the 40-day Volume Moving Average. This suggests that the market overall is still quiet, as investors are being cautious amid weaker market confidence.

As circled at C, the Stochastic stays at the short-term neutral region, suggesting that the KLCI is consolidating. In other words, the direction of the KLCI is unclear, until the Stochastic should either break above 70%, or fall below 30%.

In conclusion, with the help of some blue chips, the KLCI is avoiding the downtrend formation again, and consolidate further. Technically speaking, the best consolidation would be a narrow sideways movement, for it would allow the KLCI to prolong its consolidation while neutralize some selling pressure.