Although the KLCI has not rebounded, it has reduced its volatility if compared to last Thursday and Friday's trading. As indicated by A, the KLCI remains below the 14, 21, 31 EMA dynamic resistance, thus the immediate technical outlook is on the negative side, and the next support is at 1625.

As indicated by B, total market volume is relatively low as it is below the 40-day Volume Moving Average. This is mainly due to the shortened trading days this week. Meanwhile, losers still outnumbered gainers, and this is a sign suggesting selling pressure is still on the higher side.

As indicated by C, the Stochastic stays below 30%, in its short-term bearish territory. This shows that the short-term movement of the KLCI is still weak.

In conclusion, despite the KLCI is less volatile on Monday's trading, it has not broken away from its short-term weakness, and coupled with the higher selling activities, investors confidence is likely to be affected. But still, it is believe that the KLCI now is only having its technical correction, and not yet forming a downtrend, as it has yet to show the Lower-highs formation.