As the US markets closed lower, the FBM KLCI opened lower at 1660.77 points, and traded at a narrow range on Wednesday, before closing at 1659.40 points, down 3.92 points or 0.24%. As indicated by A, the KLCI is still consolidating above the 1655 level, while its immediate resistance is at 1688.

As indicated by B, total market volume fell 17.12%, and as a result, volume failed to stay above the 40-day Volume Moving Average. This shows that the market is back to its quiet mood as participation decreases.

As indicated by C, the Stochastic retreated a little, but still above the 70%, which is the short-term bullish territory. If the Stochastic should break below 70%, it would be a signal suggesting a beginning of a technical correction for the KLCI.

In conclusion, the KLCI is consolidating at a narrow range, which is a sign of a healthy consolidation. For now, the technical outlook remains positive, and if the KLCI could form higher-lows, it would have a chance to resume its uptrend.